By Jiazhuo G. Wang, Hongwei Xu, Jun Ma
This e-book, as a entire, in-depth research of 1 of the fastest-growing industries in China, covers the entire most crucial components and matters within the country’s on-line lending undefined. It comprises, yet isn't restricted to, the historical past of on-line lending, the dimensions of the net lending marketplace, the elemental company versions in and a hazard research of on-line lending, the features of general online-lending debtors and investors/lenders, the foundation factors of financial disaster between failed on-line lending structures, a comparative research of on-line lending systems in and out China, the final score of on-line lending structures in China, and, eventually, the outlook for the net lending sooner or later. the combination of web and finance has, lately, been one of the such a lot remarkable themes mentioned within the media, the enterprise group and academia, either in China and around the world. The chapters are supplemented with designated case experiences, which come with illustrations and tables, and the booklet combines theoretical research with conceptual discussions of and most sensible practices within the on-line lending undefined. it is going to be of curiosity to a number of readers all over the world, together with: (1) present and power on-line debtors; (2) present and capability on-line creditors; (3) traders and execs operating on-line lending structures; (4) conventional bankers and significant shareholders in conventional monetary associations; (5) employees in regulatory govt corporations; (6) teachers; and (7) the final public.
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Additional info for Financing the Underfinanced: Online Lending in China
3 The Interest Rates Charged by Platforms The interest rate charged by the platforms function as a connector linking the borrowers and lenders, and is also one of the most sensitive and core indicators of the online lending industry. According to the judicial interpretation of China’s Supreme People’s Court,11 the highest interest rate of private lending cannot be more than 4 11In Supreme People’s Court Several Opinions about the People’s Court Hearing on Lending Case, Article 6, the rate of private lending can be appropriately set at higher than that of banks.
Wang et al. 17 Data Source Wangdaizhijia We selected the overdue statistics of 18 platforms which published their overdue information and choose the overdue borrowers whose principals were not repaid back for more than 90 days. 4. It can be found that PPDai, My089 and 365edai have more overdue borrowers. As PPDai does not use the advance payment model and has no effective collection means, it resulted in serious overdues of borrowers, and even some intended defaults. However, even though the number of overdue borrowers is very high, the overdue amount per capita is not very significant because of relatively low borrowing amount per capita at PPDai.
This “Three-High” approach may help the new platforms attract more attentions of general public and more capitals. However, it also brings huge operational risk. 25), after it drew a large number of capital by taking this high-risk strategy, the default events came successively like volcanic explosion. 1 The Total Number of Borrowers As one of the parties of the P2P debtor-creditor relationship, the borrower group is one of the most fundamental nodes in the financing chain of OLPs. As a result, understanding the borrower group, together with the economic and market conditions surrounding them is critical for OLPs to better control the credit risk of online lending.