Research On Market Access System Of P2P Lending

P2P lending is an international financial model in which the platform connects lenders and borrowers by providing information service,which greatly improves the efficiency of capital transfer and enables funds to flow directly among individuals.However,the market access system of P2P lending in China has never been established,and institutional chaos is not uncommon.Nowadays,China has not yet fully established the access system,the existing policies are mainly based on the filing system,supplemented by the negative list system.However,the filing system does not match the financial features of P2P lending.Problems such as the ambiguity of the legislative supervision body and the significant differences in the access standards have also made the filing system limited in its ability to regulate P2P lending,unable to meet the regulatory needs.Therefore,China should adopt the approval system as the market access system for P2P lending and require the government to conduct a substantive review of the P2P lending companies.The approval system is consistent with the financial attributes of P2P lending,and can better meet the need to protect online lenders in China.From the perspective of feasibility,the approval system has been widely adopted by developed countries.Through the analysis of the approval system of the United States,Britain and Australia and the actual situation of China's P2P lending industry,this paper proposes a possible structure and specific recommendations for the implementation of the approval system for P2P lending:clarify the financial attributes of P2P lending companies and strict legislative principles,clarify the main body of the supervision and match the business models of P2P,and establish a dynamic fund entry threshold.