Research On Legal Supervision Of Network Small Loan Companies

The emergence of small loan companies has made great contributions to the development of Inclusive Finance in China.Since the 2008 Guidelines for Pilot small loan companies(hereinafter referred to as Guidelines)as the general outline,small loan companies have been developing at a very rapid pace throughout the country.In just ten years,the number of small loan companies in China has grown to 8,133.However,regional restrictions have inhibited the further development of small loan companies.At the same time,the vigorous development of Internet finance has changed people's way of life.Network small loan companies have been derived from the wave of Internet financial development and become an important part of it.Although network small loan companies have many advantages,such as their customers are not subject to geographical restrictions,the cost of examining and issuing loans is low,and their flexibility is high,because they are still regulated by the "guidance opinions" as traditional small loan companies,they can only "only lend and not keep",their financing channels are restricted,they do not have the identity of financial institutions,and there are insufficient legal supervision and excessive supervision of their laws and regulations in both the central and local governments.It seriously restricts the innovation and development of internet small loan companies.The network small loan company is a small loan company which obtains the network small loan license according to law and provides the small loan service through the network platform completely.So far,China has not established a legal supervision system for internet small loan companies.The existing legal normative documents from the central to local are loose and fragmented,and the legal rank is relatively low.The proposed Regulations on Non-Deposit Loan Organizations is only a department regulation.The supervision mode by means of government administrative intervention has destroyed the autonomy of innovation and development of internet small loan companies and disturbed the market order.Therefore,the main purpose of this study is to analyze the characteristics and regulatory process of internet small loan companies,find out the shortcomings by using legal theory,give reasonable suggestions according to the economic development of our country,and put forward the idea of constructing service-oriented legal supervision.First of all,starting from the discussion of the concept of network small loan company,this paper explores its origin from micro credit and traditional small loan company,discusses the development status of network small loan company and the relationship between Internet Finance and network small loan company,and from the legal theory of network small loan company,summarizes seven characteristics of network small loan company,taking Alibaba small loan as an example Secondly,this paper summarizes the legal documents and regulatory status of online small loan companies,and puts forward seven problems existing in the legal regulatory system.Finally,in view of the problems raised,it gives suggestions on establishing the legal regulatory system of online small loan,and constructs a service-oriented legal regulatory environment.