Research On Legal Supervision Of Network Microfinance

With the increasing downward pressure of economy and the impact of the transformation of P2 P network lending,network microfinance,as one of the main forms of Internet finance is rapidly developing due to the development of technology and its convenience,as well as efficiency.But with the development of network microfinance industry,the drawbacks are constantly appearing.In November 2020,the China Banking Regulatory Commission and the People’s Bank of China publicly solicited opinions on the Interim Measures for the Administration of network microfinance Business.It made clear rules for the supervision of network microfinance and pointed out the direction for the supervision.However,there are still problems of insufficient supervision and excessive supervision in the Provisional Measures for network microfinance.This paper tries to explore a legal path which is suitable for the supervision of network microfinance in China.Except for the introduction and conclusion,This paper is divided into three parts.The first part is an overview of network microfinance.Firstly,the definition of network microfinance is introduced.Secondly,this paper takes Ali Small Loan as an example to introduce the operation mode of network small loan.Finally,the development course of network microfinance is expounded.This chapter lay a theoretical foundation for the following legal supervision research.The second part is the problems existing in the legal supervision of network microfinance.It mainly includes the following aspects.First of all,there are no high-order legislation on network microfinance,the legal conflict is obvious.Second,the threshold of access to network microfinance is too high.It is not only unfavorable to the transformation of network loan,but also inconvenient to the development of network microfinance itself.Third,the lending behavior was not in compliance with the law.In the end,there is no exit mechanism for network microfinance.The third part is to give specific suggestions to improve the supervision of network microfinance,which is to unify regulatory norms,lower the entry threshold,standardize the lending behavior and establish complete exit mechanism.