This is legal. Peer-to-peer lending is just a form of private lending, that is, private lending concludes a loan contract in the form of a network contract, and fulfills the contractual obligations of providing loans and repaying principal and interest through the network. However, beware of informal online loans.

Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases Article 13.

In any of the following circumstances, the people's court shall deem the private loan contract invalid:

(a) Obtaining loans from financial institutions for lending;

(2) Lending money from other profit-making legal persons, raising funds from employees of the unit or illegally absorbing funds from public deposits;

(3) Lenders who have not obtained the loan qualification according to law provide loans to unspecified social objects for the purpose of making profits;

(four) the lender knows or should have known in advance that the borrower's loan is used for illegal and criminal activities, but still provides loans;

(5) Violating the mandatory provisions of laws and administrative regulations;

(6) Violating public order and good customs.