| With the rapid development of the Internet,finance has gradually derived many new models –Internet finance,most typical of which is P2 P online lending.P2 P online lending refers to a financial mode of person-to-person or person-to-business lending realized through the Internet platform,without the traditional financial institutions such as commercial Banks.P2 P online lending originated in the UK.After it was introduced into China in 2007,it developed rapidly with a rapid increase in the number and transaction volume of platforms.Currently,there are a total of 6,452 P2 P online lending platforms in China.It can be said that P2 P online lending is of great significance to promote financial innovation,change traditional financial models and expand financing channels.However,with the rapid development of P2 P online lending,it also faces many challenges,such as platform runaway and capital fraud,which are emerging in an endless stream and on the rise.In June this year,we were further aware of the lack of risk management and control in the case of the thunderstorm on P2 P platforms.By February 2019,the number of shuttered and problem platforms has exceeded 80% of the total number of platforms,and frequent thunderstorms have seriously affected the stable development of the industry.Firstly,based on the introduction of P2 P network lending,this paper sorts out the existing research literature.By studying the operation mode and risk control measures of typical P2 P online lending platforms at home and abroad,several typical operation modes in China are sorted out,including pure intermediary mode,compound intermediary mode and debt transfer mode.Among them,the creditor's right transfer mode is innovatively carried out in China,which solves the problem of poor matching between investors and borrowers and increases investors' capital liquidity.The risk sources of each platform are comprehensively analyzed,including network risk,credit risk,market risk,operation risk and policy risk.Combined with the typical thunderstorm platform "grassroots investment" event analysis,from the information disclosure,false publicity,bank deposit and other aspects of a detailed analysis of the causes and characteristics of the thunderstorm,found that the platform is facing the common problems.On this basis,the risk assessment of 40 typical online lending platforms in China has been carried out by using entropy weight law and Critic law.The results show that only one of them has qualified the rating,and nearly half of them are dangerous platforms.The risk concentration of the whole industry is high and the situation is grim.Although the primary risks faced by different rating platforms are different,they all have low scores in terms of liquidity risk and market risk control,which need to be focused on and prevention and control.However,platforms with different characteristics have a certain correspondence in risk score.Shareholder background and operation time have a positive effect on the total risk score,while the average return rate has a negative effect.However,whether the debt is transferable has little impact on the total risk score,but has a great impact on liquidity risk and market risk.Finally,combined with the full text from the lending platform,regulatory authorities and lenders respectively put forward the relevant recommendations from three perspectives. |
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