1, Qian Bao is a private loan.

2. Private lending is a civil act, which is bound and protected by civil law and contract law.

Usury is illegal and not protected by law. The receiving party can only repay the principal and interest within the scope prescribed by law.

Legal basis: Criminal Procedure Law of People's Republic of China (PRC).

Article 1 The term "private lending" as mentioned in these Provisions refers to the financing between natural persons, legal persons and unincorporated organizations. These Provisions shall not apply to financial institutions and their branches established with the approval of financial supervision departments to engage in loan business, and disputes arising from loans and other related financial businesses.

Article 2 When a lender brings a private lending lawsuit to the people's court, it shall provide such creditor's rights certificates as IOUs, receipts, IOUs and other evidence that can prove the existence of the legal relationship between lending and borrowing. If the creditor's rights certificates such as IOUs, receipts and IOUs held by the parties do not specify the creditor, and the parties holding the creditor's rights certificates file a private lending lawsuit, the people's court shall accept it. The defendant raised a factual defense against the plaintiff's creditor qualification, and the people's court ruled that the plaintiff did not have the creditor qualification after examination and dismissed the prosecution.

Article 3 Where the borrower and the lender have not agreed or clearly agreed on the place of performance of the contract, and no supplementary agreement has been reached afterwards, and the place of performance of the contract cannot be determined according to the relevant provisions of the contract or trading habits, the place of performance of the contract shall be the place where the currency recipient is located.

Article 4 Where the guarantor provides joint liability guarantee for the borrower and the lender only sues the borrower, the people's court may not add the guarantor as a co-defendant; If the lender only sues the guarantor, the people's court may add the borrower as a co-defendant. If the guarantor provides a general guarantee for the borrower and the lender only sues the guarantor, the people's court shall add the borrower as a co-defendant; If the lender only sues the borrower, the people's court may not add a guarantor as a co-defendant.