The Research On Functional Analysis And Regulatory Countermeasures Of Network Lending

It has ten years since 2007,the first network lending platform has been set up in our country.Network lending in our country has developed from undemanding regulation environment at the first period into many local characteristic business modes.The regulation rights allotted is unclear due to the backward of regulation that network lending has been supervised under the financial separate regulation system.It straightly causes the blank of regulation in some business behaviors and unprotected consumers in network lending.Therefore,the analysis of network lending from the essence of financial function and the legal definition of financial services and products provided by network lending platform has theoretical and practical significance to improve the current network borrowing and lending regulatory system as soon as possible.This paper contains five chapters.Chapter 1 as the part of introduction contains the background and importance of the research,related theory and research review and put forward research methods based on the state of the development of network lending in China.The body part of this paper consists of three parts.The first part contains Chaper 2 and Chaper 3 which summarize the development course of Chinese network lending based on the redefinition of the concept and connotation about network lending.The development of network lending in China is summarized as a period of pure intermediation,debt transfer stage and Internet financial composite intermediary.Then according to the order from abstract to concrete and appearance it analysis the function of network lending.The primary function of network lending is resource allocation.The core function contains promoting financial integration,shifting and managing risks,reducing transaction costs and improving information asymmetry.The expansion function include credit evaluation,securitization and credit enhancement services.The second part Chaper Four which points out the disadvantages of the current regulatory system on the base of previous function analysis.In this part questions are put forward about unreasonable regulation of information consultation function and a blank of legislation for financing function and a lack of legislative oversight for credit function and enhanced credit service function.In third part advises are been given based on the previous analysis of network functions and the functional defects of regulation policies.Advises are referenced oversea's experience of regulation in network lending which have been included in five.First,to revise the qualification zone of current financial information intermediary agency in our country.Second,to set up non-saving lending organizations and its qualifications.Third,tomanage and standardize the qualification of credit.Fourth,to enhance the regulation of risk deposit.Fifth,to protect consumers' personal informations and benefits.