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P2P industry: Overview and problems (No 39, 2015)


By Zhu Hongming, Research Team on Project Studies of China's Nongovernmental Finance Development, Research Institute of Finance of DRC

Research Report No 39, 2015 (Total 4724)


P2P industry is an important part of Internet finance. Some features are demonstrated in the development of P2P industry since 2014, such as the sustained expansion but with a limited overall scale, high regional concentration ratio, evident proportion increase of high-credit P2P platforms, notable decrease of loan interest rate, increased cooperation with banks, initial connection with multilevel capital market, growing support from local governments and the initiation of industry self-discipline mechanism. However, there are some problems and obstacles during the development of P2P industry, including increasing business risks, an urgent demand for the improvement of business order, business mode with compliance risks as well as a poor credit environment. In order to promote a standardized development, it is suggested that P2P industry should be incorporated into the regulatory scheme to efficiently enhance the business order. In addition, the credit system construction should be strengthened, the pilot connection of P2P platform with the Central Bank credit system should be pushed forward and the credit environment of P2P industry should be improved. Apart from that, education and protection for investors should be reinforced.