Reference To Mainland Folk Lending Legislation In Hong Kong Money Lenders Ordinance

Folk lending has existed for more than 3000 years in our country.According to historical records,as early as the Zhou Dynasty existed in China's first folk lending market,the subsequent dynasties have a record of the existence of folk lending,it has become an important part of social and economic life.At the same time,there will inevitably be many disputes in the active private lending market.In this regard,the government also conducted corresponding controls on the behavior of folk lending.According to the records,the informal lending activities were officially popularized after about 1840,lending organizations such as various kinds of private banks once became the mainstream of finance,which promoted the development of folk economy at that time.However,due to the social environment and cultural factors,commercial behavior was discriminated by the state,and the development of folk lending was also subjected to the repression of policy and the government's accusation.Until recent years,the government began to pay attention to the development of folk lending market,but it still adopt conservative policies to solve the problem.How to use the law to regulate folk lending has directly affected the country's economic development.I think that if we want to maintain and stabilize the development of the folk lending market,we should focus on perfecting the supervision system and interest rate system.To solve these problems,this paper sums up the reasonable points by drawing lessons from the successful experience of the Hong Kong Money Lenders Ordinance,and then puts forward some suggestions on perfecting the mainland folk lending law.This paper is divided into three parts.The first part is a summary of Hong Kong's folk lending.This section begins with a brief introduction to the historical origins of the Money Lenders Ordinance.The contents of the Money Lenders Ordinance are then interpreted in four subsections,which include the definition of a money lender and the requirements for entry thresholds,the provisions on the liability of a money lender in the course of the transaction,the provisions of the law on interest rates,and other details.It is followed by the form of folk lending in Hong Kong and the local mode of operation.The second part is an overview of the problems with mainland folk lending.This section mainly consists of the current situation and problems of mainland folk lending.The first half of this section is about the status quo of mainland folk lending.The current status is divided into folk lending market and folk lending laws.The second half of this section deals with the analysis of the problems of folk lending in the mainland.At present,there is no clear and unified law on folk lending in the mainland.In addition to strict financial regulations, lack of overall supervision in the market and unreasonable interest rate system,All have hindered the development of folk lending.All hindered the development of folk lending.The third part is about the reference of the Hong Kong Money Lenders Ordinance to mainland folk lending.This section is mainly to answer the questions mentioned in the second part.In addition,a corresponding system is needed to improve the folk lending laws,such as perfecting the legal liability of usury,setting up the threshold of money lenders,warning mechanism,standardizing the behavior of money lenders,promoting the development of trade associations,establishing individual bankruptcy system and perfecting personal credit system.