Research On Government Supervision Of P2P Network Lending In China

In February 2019,China Banking Regulatory Commission organized the national financial industry supervision and management conference in 2019.In this meeting,the risk prevention and control of Internet finance was repeatedly mentioned as an important topic.With the continuous bankruptcy of P2 P enterprises,more and more cities have introduced strict regulations for such industries.In October 2019,Shanghai began to comprehensively rectify P2 P companies,and conducted a thorough investigation on the current risk situation,and closed down and renovated some high-risk platforms.It can be seen that with the increasing attention of government departments to the development of Internet finance,the special rectification work of P2 P network lending will inevitably face greater regulatory pressure.P2P is an online lending platform.Compared with traditional Banks and other financial institutions,P2 P is characterized by fast lending time and simple auditing.Therefore,when a sum of money is urgently needed,P2 P companies can often alleviate the liquidity crisis of enterprises to a certain extent.P2 P network lending has the characteristics of openness,credit screening,risk dispersion and low threshold.By studying the existing problems of P2 P government regulation,this paper can improve and better guide the government to conduct regulatory research on the development of P2 P industry and even the development of the financial industry,and expand the government's research field of financial regulation.At the same time,it is also the enrichment and development of the existing research results of P2 P Internet regulation.At the same time,it is of great practical and theoretical significance for the development of Internet finance and the improvement of China's financial system to propose targeted regulatory measures suitable for the development of P2 P industry through the study of government regulation.In this paper,P2 P industry as the research object,mainly discusses the government regulation of P2 P industry.This paper is divided into six parts.First of all,in theintroduction part,the research background and significance of this paper are described,and the research focus of this paper is put forward by combing the domestic and foreign scholars' research on the government regulation of P2 P industry.Domestic scholars have largely learned from foreign experience in studying the government regulation of P2 P online lending platforms,but lack the combination of domestic Internet financial environment,regulatory system,social culture and other relevant factors,resulting in a limited degree of guidance for practical development from these theoretical experiences.Based on this background,this paper explores many problems existing in the government supervision of P2 P interconnected lending platforms in China,and puts forward targeted government supervision measures suitable for the development of P2 P industry.The second part introduces the related concepts of government regulation of online lending,public interest theory,regulatory arbitrage theory and information asymmetry theory,which lays a theoretical foundation for this study.The third and fourth parts summarize the current situation of government supervision in this industry.At present,the main body of government supervision is the banking supervision institution.The number of uniforms regulated by the government is small and lacks pertinence.The regulatory measures of the government are mainly carried out before,during and after the event,and the regulatory measures are relatively single.The supporting mechanism of government regulation mainly relies on industry associations,and currently lacks social supervision.This paper also analyzes the current problems in the overall development of China's P2 P industry and government regulation through questionnaires,and finds out the real reasons for these problems based on the actual situation of the industry.First of all,the main functions of government supervision are not clearly understood,and the official-based thinking leads to the neglect of the service attributes of the government,which hinders enterprises and is not conducive to encouraging the development of P2 P enterprises that abide by relevant laws and regulations and operate in good faith.In the government's concept of supervision,the power of the public and the power of trade associations are not paid enough attention to.Involving many departments,the effect of coordinated supervision is poor.Second,the government's regulatory system is technologically backward,with few laws and regulations,and the existing provisional measures are difficult to achieve the expected goals of government regulation.Third,government regulation is not strict enough.Finally,the lack of the corresponding supporting mechanism,did not promote socialsupervision.In the last part,combined with the advanced experience of foreign government supervision of Internet personal lending,combined with the actual situation of the development of P2 P industry in our country,this paper puts forward a targeted solution.Including the promotion of the main functions of the government,the improvement of the system basis of government supervision,the improvement of government supervision measures and the construction of a perfect government supervision auxiliary mechanism,etc.,to lay the foundation for the industry's government supervision.