Legal analysis: Peer-to-peer lending includes personal peer-to-peer lending and online microfinance. Personal peer-to-peer lending refers to direct lending between individuals through the Internet platform. Direct lending on the personal peer-to-peer lending platform belongs to the category of private lending, which is regulated by the Contract Law, General Principles of Civil Law and other laws and regulations as well as relevant judicial interpretations in the Supreme People's Court. Network micro-loan refers to the micro-loan provided to customers by Internet companies through their holding micro-loan companies. Network microfinance should abide by the existing regulations of microfinance companies, give full play to the advantages of peer-to-peer lending, and strive to reduce the financing costs of customers. P2P loan business is supervised by China Banking Regulatory Commission.

In peer-to-peer lending, if the borrower dies, the immediate family member or heir will repay the loan.

Legal basis: Article 161 of the Civil Law of People's Republic of China (PRC), the successor shall pay off the taxes and debts that the decedent should pay according to law within the actual value of the inheritance. The part exceeding the actual value of the estate shall be voluntarily repaid by the heir. If the heir renounces inheritance, he may not be liable for paying off the taxes and debts that the decedent should pay according to law.