Research On The Formulation Process Of P2P Supervision Policy In China From The Perspective Of Multi-source Flow Theory

The centralized bankruptcy of the P2P online lending platform since 2016 is another order crisis in the Internet financial market.IT has caused serious problems such as the loss of investors' interests,the evasion of debts,and the turmoil in the Internet financial market.Since then,the P2P online lending industry has undergone a series of regulatory measures.The market tends to be normative,but it also exposes a series of problems such as stagnant development,a large number of platforms retreating.The path of rectification is still unclear,and deep-level problems have not yet been fundamentally resolved.It should be noted that the long-term lack of P2P online lending supervision policy is the objective reason for the chaos in the online lending industry.In order to solve this problem fundamentally,we must strengthen the revision and improvement of P2P online loan supervision policy.However,the introduction of policies often requires a long period of time.It is often not easy for the regulatory authorities to do the right thing and ensure the scientific and rationality of relevant policies.This paper introduces the multi-source flow theory model to study the process of formulating P2P online lending supervision policy.In order to pry into the introduction of policies,support the continued optimization and improvement of follow-up policies.In order to respond to the development difficulties of the industry,realize the healthy and stable development of the P2P online lending industry,and serve the real economy.The government must shorten the policy agenda cycle,promote more source-stream coupling and the opening of policy windows,so as to improve industry rules as soon as possible,and escort the sustainable development of the online lending industry.The text is divided into five parts.In the first part,based on the background and significance of the topic,the relevant research literatures at domestic and foreign are sorted out,and the related core concepts and theoretical foundations are introduced.The second part gives an overview of the development and status quo of China's P2P online lending industry.China's P2P online lending industry has experienced rapid development,but it also exposes huge potential risks.In the context of the frequent occurrence of online lending platforms,the government gradually increased the intervention of the online loan industry,the article comprehensively sorted out China's online loan supervision policy.The third part analyzes the process of P2P online lending supervision policy from three aspects:problem flow,policy flow and political flow from the perspective of multi-source flow theory.Based on the problem flow,this paper analyzes the current situation of P2P network loan development and the main problems it faces,and reveals the necessity and urgency of supervising the P2P network loan industry.The policy flow is the main line to analyze the motivation of the advanced supervision policy.The promotion and appeal of the policy community is the direct cause of policy formulation and revision;the political logic is the main line to analyze the deep logic of the introduction of regulatory policies.The public opinion and the party and government' s high concern are the root causes of the policy.In order to enhance the explanatory,this paper reconstructs the multi-source flow model,and analyzes the development process of online lending supervision policy by taking two important multi-source coupling points as an example.According to the results of the analysis,it is enlightened that in order to continuously and steadily promote the revision and optimization of P2P online lending supervision policies,it can be carried out from the perspectives of problem flow,policy flow,political flow and policy window opening:We must attach importance to the use of data from various surveys in China,pay attention to the role of the media such as the Internet,and attach importance to citizen participation to expand the source of the problem stream;attach importance to the recommendations of experts and scholars,and formulate sound alternatives to give full play to the role of policy flows,Focus on public opinion,use indicators and focus events,and play the role of meetings to open the window of policy.The fourth part is the deficiency and suggestions of P2P online loan supervision policy.In order to create a political,economic and social environment,according to the previous research,the article summarizes the problems existing in P2P online loan supervision policy,and give the suggestions.The fifth part is the conclusion part,which summarizes the research results and makes a prospect.