After the current rectification action, we need to be cautious again if we reopen the private lending market under the Internet situation in the future. If the regulatory measures are not in place, it is better to short.
1. The private lending market between strangers is destined to be a high interest rate market. When the interest rate reaches a certain level, it will become a negative factor that undermines social stability. We sometimes know that the interest rate of private lending between people should be paid according to the potential interest rate of society. Generally speaking, the private interest rate between offline acquaintances is the least, and the annualized interest rate is above 12%. Then, in the case of internet finance, lenders (whether lending companies or individuals) and borrowers are strangers and do not know each other. Only through the internet matching platform or online loan system identification can they borrow money smoothly, so this interest rate will definitely be much higher than the private interest rate. At present, the interest rate of the general lending platform is still trying to be liberalized at an annualized rate of 24% under the situation of severe crackdown by the state.
2. The high loan interest rate that seriously exceeds the average social profit rate will cause the economy to be idle and the economic system will become more and more hollow. The high interest rate of internet finance will allow countless people to import excess bank information into this industry in order to seek so-called profiteering. Capital will flow into the lending industry in large quantities, so the capital added by the industrial industry will be less and less, the whole social economy will become empty, the high interest earned will gradually turn into figures, and the economy will become more and more fragile.
3. peer-to-peer lending has now become a predatory lending, that is, it has lost its original urgency and financial problems, each with its own meaning, and has become a game of information, supervision and financial knowledge between borrowers and lenders.
A. If the borrower knows nothing and thinks he is weak, then the lender can do whatever he wants and get high interest;
B. If the borrower grasps laws and regulations and makes effective complaints, then the lender will restrain his behavior and can only make appropriate normal profits and losses;
C. If the lender's background is tough, the license and loan qualification are complete, and the legal contract is complex and elaborate, then the borrower will pay a great price to maintain equality and achieve equal lending;
D. If the borrower carefully pretends, sets routines or doesn't care about breaking promises and breaking contracts, then the lender will suffer bad debts.
4. At present, the supervision is fragmented and cannot be effectively combined, which makes the online lending platform take advantage of the loopholes, which can not only obtain high interest rates but also get away with it. Although various regulatory authorities have issued various documents, there are also many regulatory authorities. For example, the Industrial and Commercial Bureau, the Tax Bureau, the Internet Information Office, China Banking and Insurance Regulatory Commission, the Finance Office, the Internet Finance Association and the public security organs all handle complaints according to their own understanding and subjective judgment. In this way, the online lending platform can set up various reports for different permissions, thus slipping away in the gap.
For example, Ping An Pratt & Whitney itself is a platform for online loan matching, and it is not qualified for lending. However, its subordinate company is a small loan company, which is managed by the registered financial office, while the bundled insurance products are managed by the CBRC, and the bundled guarantee products are managed by the registered financial office, and the bank funds for lending are managed by the CBRC. If Ping An Pratt & Whitney involves these four companies in four places, the situation will be more complicated. A regulatory department in every place may encounter the problem of whether it has jurisdiction. Should it be managed by other authorities? How to characterize online loan violations? The amount of a single complainant is so small, how to determine its nature and total amount?
Then, in such a complicated situation, if the regulatory authorities want to completely solve the problem, it is better to temporarily shut down all Internet lending platforms. "Chaos must be cured", and shock therapy is the best choice.