| The P2 P online lending is the product of "Internet + finance" in the field of microfinance lending,and it is a new format under the background of financial technology.It is of great significance for the improvement of Chinese financial market and even the entire economic system reform.Since 2013,due to the involvement of illegal guarantees,the P2 P online lending industry has begun to develop rapidly,followed by chaos in the industry such as closures,loss of communication,and absconding.due to the involvement of guarantees,the P2 P online lending industry has started its bubble development,followed by chaos in the industry such as closures,loss of communication,and absconding.Regardless of the development trend of the industry,or from the view of the regulatory authorities,P2 P online lending platform "removing guarantee" has become imminent.This article will analyze the existing forms of various types of guarantees on P2 P online lending platforms,and point out the necessity of “removing guarantee” the P2 P online lending platform,and put forward specific regulatory suggestions from two aspects,including overall thinking and concrete measures,with a view of removing guarantee,and under the premise of investors' legitimate rights and interests,the guarantees of the P2 P online lending platform can be removed to promote the smooth operation of the industry.The basic content of this article includes three parts except the introduction and conclusion:The first part is the background and analysis of necessity of remove guarantee of P2 P online lending platform.Combined with the three-step development history of P2 P online lending platform,the regulatory department's attitude transformation from indulging to penetrating,the great role P2 P online lending platform played in the reform of the economic system,and obstacles set up by guarantee,the article analyzed the necessity of remove guarantee.The second part is the analysis of existing guarantee forms of P2 P online lending platform.Dividing guarantee of P2 P online lending platform into self-guarantee and third-party guarantee,the article further emphasized the necessity of remove guarantee.Self-guarantee includes two forms,guarantee by own funds and guarantee by risk reserves,however,there are risks as illegal fund-raising,operation beyond scope,inappropriate propaganda and so on.Third-party guarantee includes guarantee by thirdparty guarantee organizations and guarantee by performance bond insurance,which precedes self-guarantee obviously in stronger guarantee ability,higher quality of risk prevention and control and so on.But there are also risks as high leverage ratio,related guarantee,risk contagion and so on.What's more,there are difficulties in performance bond insurance system because of high cost and insurance company's vague cooperative willingness.The third part is regulatory suggestions on remove guarantee of P2 P online lending platform.On the whole,regulatory department should make regulatory goal clear and stick to the principle of differentiated regulation.Specifically,P2 P online lending platform should set about connecting system by strengthening penetrating regulation,establishing alternative investor protection measures and improving the P2 P industry self-regulation mechanism,so that online lending industry can make substantial progress. |
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