CAJ | 학술논문

P2P借贷是一种创新的金融组织形式，实现了现有金融系统的部分功能，是对传统金融体系的有益补充。我国P2P借贷行业经过近7年的发展，衍变出了一些具“中国特色”的商业模式。这些商业模式风险特征各异，给监管当局带来了一定的挑战。本文从不同商业模式下P2P借贷的特征和性质出发，具体分析了各种P2P借贷模式的共性风险和特性风险。在此基础上，本文对P2P行业的监管分析表明，其监管应确定金融创新容忍、行为监管、监管一致性和消费者保护的原则，根据不同P2P模式的性质和风险情况制定有针对性的监管方案，同时加强行业自律。
P2P차대시일충창신적금융조직형식，실현료현유금융계통적부분공능，시대전통금융체계적유익보충。아국P2P차대행업경과근7년적발전，연변출료일사구“중국특색”적상업모식。저사상업모식풍험특정각이，급감관당국대래료일정적도전。본문종불동상업모식하P2P차대적특정화성질출발，구체분석료각충P2P차대모식적공성풍험화특성풍험。재차기출상，본문대P2P행업적감관분석표명，기감관응학정금융창신용인、행위감관、감관일치성화소비자보호적원칙，근거불동P2P모식적성질화풍험정황제정유침대성적감관방안，동시가강행업자률。
Peer-to-peer lending is a financial innovation and a beneficial supplement to the traditional financial system because it realizes some functions the existing financial system have missed. After the 7 years development in a loose regulatory environment, P2P lending evolves several business models with some distinctive Chinese features. Each P2P business model has different risk characteristics and brings regulators certain challenges. From the characteristics and nature of the P2P lending of different business models, the paper analyzes the common and specific risks of various P2P Lending models. The analysis on P2P industry regulations in this paper shows that we should determine five regulation principles： tolerating financial innovations, conduct regulation, regulatory consistency and consumer protections, formulating specific regulatory scheme according to the nature and risk characteristics of different P2P models, and strengthening industry self-discipline.