GUO Feng：Regulation of P2P Lending: From the Perspective of Relationship Between the Central and Local Governments
Regulation of P2P Lending: From the Perspective of Relationship Between the Central and Local Governments
GUO Feng （Shanghai Finance Institute & Peking University）
Abstract
While P2P lending is developing rapidly in China, problems do exist and call for stronger supervision. Under the current financial regulation framework, P2P is mainly supervised at the local level. This article summarizes the regional features of P2P online lending platforms, especially the risk features and effectiveness of supervision. It was found that P2P platforms are concentrated in several provinces, but crossregional transactions can be carried out easily regardless of where the platforms are registered. The registered capital and number of shareholders differ greatly among the provinces, and problems with the platforms are different too. Local governments have assumed very different attitudes towards P2P platforms. Based on the analysis, a few policy recommendations are made. Keywords：P2P Lending, Relationship Between the Central and Local Governments, Financial Risk,
