Research On The Withdrawal Mechanism Of P2P

Since its inception in the UK in 2005,P2 P has been rapidly gaining market share in the world with its unique advantages and is developing rapidly.However,this kind of inclusive financial instrument,which is popular in developed countries,and experienced the earlier rapid expansion period after being introduced into China,gradually exposed its the risks.As a result,the government began to reflect on the systems of the related supervision and regulation of Internet finance.Starting from2016,the first year of supervision,the detailed rules of various ministries and commissions were released one after another,which started the regulatory authorities' course of cleaning and rectification of Internet finance.In December of 2018,confronting the increasingly fierce "thunderstorm tide" in P2 P,the promulgated article175 determined the working direction of "encouraging the benign exit of most institutions and guiding the transformation of some institutions".In 2019,the special rectification will enter a critical moment with the whole industry being cleared and transformed.With the coming of new season,a large number of platforms need to be withdrawn,so does numerous questions waiting to be answered.Under all related context,I will discuss the construction of the exit mechanism of the online lending industry in this article,which consists of four parts.In the first part,the article starts with the exiting problems of the P2 P industry since 2019,analyzes the number of the exited platform in industry for one past year,and summarizes the reasons and methods that platforms in the industry exit the market.Therefore,combining with a series of laws and regulations on online lending issued recently,the real situation of P2 P platform in China can be comprehended.The second part,it focuses on analyzing the reasons for the large-scale exit of the platform on the basis of understanding the current situation of the industry exit in the first part.Moreover,I will try to analyze the defects of China's exit system and thepossible obstacles in the future system construction from the four dimensions of platform operation,legislative perfection,legal linkage and practical supervision.In the third part,By referring to some advanced withdrawal system experience of P2 P platform from other countries,and comparing them with some measures of regulating P2 P in China,I will summarize the experience of P2 P institutions' withdrawal in China at the present stage and try to conclude some thoughts about the establishment of the withdrawal system in China.The fourth part,Combined with the above three parts,this paper proposes some suggestions on establishing the withdrawal system of China's P2 P institutions,including followings.The first is to improve the relevant legislation to lay a foundation for the establishment of the exit system.The second is to establish a special withdrawal standard for P2 P,so as to give all parties more autonomy in the complex situation of dissimilar operation of the P2 P in China.Thirdly,from the perspective of legal system,a linkage mechanism among department laws should be established to open up diversified advantageous transformation channels of P2P;Finally,from the perspective of platform exit,a comprehensive supervision system in line with China's national conditions should be established.