The Research On The Superversion System Of P2P Lending Based On Sme Financing

Due to the duality of financial sector,SME have to be excluded from the formal financial system,and have to rely on self-finance or private lending.As a part of Internet Finance,P2P lending offers a new possibility of SME financing.With the continuous development and the alienation of P2P platforms,the regulatory issue has become the priority.The first part of this article discussed the existing SME financing services.P2P industry raised as a result of the inefficiency of domestic indirect and direct financial services.From the perspective of Law and Economics,using the theory of supply and demand,the long tail theory,transaction cost theory and risk distribution theory,combining the normative and empirical analytical method,the article reaches the conclusion that the appearance of P2P industry has its legitimacy,and P2P industry is fit for SME financing and will benefit the development of real economy in China.The second part of this article has conducted the research about the legal nature of current P2P platforms.Through the one by one analysis of doctrine of information intermediary,of financial institutions and of securities brokerage,the article come to the conclusion that the information intermediary doctrine and some oh the financial institutions doctrine are suitable for the development of P2P industry in China.The third part of this article is to analyze how to perfect the supervisory regime.For our domestic P2P industry,there are three core content,which are very important.They are grasping the characteristics of the duality of our financial supervision system,clearing the legal nature of the platforms and making the supervisory implementation match the tolerance of the platforms.