P2P belongs to the Internet Co to provide services for the fund provider and user platform, introduced in the China, business scope gradually variation, including theDebt packaged into financial products absorb public deposits, guaranty capacity is low and there is capital pumping funds from other issued prepaid card commitment repurchase income from the phenomenon.

    A web CEO Liu Yannan points out, the debt package for financial products, the surface is the financial innovation, has the very high expected rate of return, customers are more likely to accept, but huge risk -- due to the opaque, formed between the pool, the pool, the maturity mismatch risk capital mix, which exist in the funding chain fracture.

Since the financial products

Money new reporter was informed that, the central bank survey of Chongqing area, found that there are two registered in Chongqing field P2P company's packaging into financial products, sales to the public through the Internet and the entity shop, yield in the years 12% to 20%, the social public funds directly into the company account or the legal representative of the individual account, the account balance up to 10000000 yuan.

The report points out, three Chongqing Local Company account also accept personal remittance. At present, the remitter has 1374 people, year account transaction volume of over 400000000 yuan, P2P network lending platform from "supply and demand of funds set" gradually becomesDeposits, loans institutions.

   In 2011, Angel Program Web site launched a "network of ICT" financial products, the original one to one creditor packaged into opaque investment targets, and at very high returns attract investors. Investment funds will be the direct recharge into the website account, then the site unified investment. By the end of 2011, theSite suddenly can not open, responsible people lost contactSo far, a police investigation,Funds were not recovered.

In 2012 August, the P2P industry leader in one of the Red Hill VC self published a financial product, called "Hong Ling sun innovative collection of financial experience products", major investment in the field of securities and futures, subscription object to red hill VC website users. In November the same year, the issue body lacks the legal issue financial products qualification, the public security department to warn of the risks the company. Red Hill VC finally according to repurchase price sold all financial products.

    All known CEO Xu Jianwen told reporters, because the subject of opaque, leading to P2P company like angel program prior to the occurrence of the responsible personForgery mark, misappropriation of funds, after the problem is now to escape.

　  At present, almost all of the P2P web site, the user investment first on the siteThe registered account and recharge,Then the recharge to the site of the funds to invest in. Many sites have declared"Recharge amount paid by the third party platform for unified managementBut Gu Chonglun said, ",In fact, only the P2P in payment have an account on the platform, when the user decides to funds action, or by the P2P company for a loan to pay platform instruction. That is to say, the ability of P2P company has moved the capital.

   "This and early securities company stock accounts, the money in the securities account, therefore also occurred in the securities company misappropriation of clients' financial cases. Later, the customer transaction settlement funds third bank deposit business, to solve the problem of capital supervision, to avoid misappropriation of clients' funds may." Gu Chonglun said, at present, P2P company is just like early securities company, also no third party agencies to effectively monitor the use of funds.

"The principal security" and

Open the P2P site, most commitment if bad debts, will provide "principal compensatory", some of which are all compensation, some pay membership fees, become VIP members will enjoy compensation.

A Guarantee Corporation personage thinks, form this behaviorA guarantee. "Not everyone can do guarantee business, financing Guarantee corporation need to have the business license Chinese financing guarantee institutions; at the same time China legal provisions, the Guarantee corporation can guarantee the amount can not exceed 10 of the capital times." Xu Jianwen said.

He explained, the guarantee amount of P2P company, leverage can not control within 10 times, often prohibitively high.

Reporters access to information that,Peer-to-peer lending the registered capital of 6000000 yuan, and the trading volume in the first quarter of this year amounted to 200000000 yuan; E Quicken Loans registered capital of 20000000 yuan, the year 2012 turnover amounted to 700000000 yuan; Chengrong online registered capital of 10000000 yuan, the annual turnover of up to 1800000000 yuan in 2012.

The central bank report points out that, at present,P2P network loan businessUsually the borrower will be mortgaged to the intermediary, the intermediary for the debt to the public security model. Some products starting point for the amount of intermediary agencies issued up to 1000000 yuan. Found on the five home intermediaries investigation, its registered capital from 3000000 yuan to 10000000 yuan, but the annual volume of transactions were 80000000 yuan, up to as high as 500000000 yuan, intermediaries registered capital low, guarantee ability is limited, from the industrial and commercial annual statement of assets and liabilities, there exist two intermediariesCapital out of the situation.

    According to informed sources, evenP2P leading enterprises appropriate letter companyTo escape the high bad debt rate -- the Changsha branch, the second half of last year because of bad debt rate as high as 5%, leadBusiness to a halt.

    In all known as an example, the P2P company andLine No. three party Guarantee CorporationCooperation, the Guarantee Corporation shall bear the guarantee function. Assuming the current borrowing a total return of 35%, Guarantee Corporation and earn big money investors respectively, everyone as a platform to earn a few points, and does not bear the financial risk.

A web model and the cooperation and the third party organization. Due to the favorable net oriented customer small amount, Guarantee Corporation by guarantee is not realistic, therefore the cooperative and guarantees quality of small loan companies, small loan company responsible for the customer referrals, and audit risk, favorable network must pay the cost of the.

P2P mode is, not the "principal compensatory" guarantee. When a customer loans total amount is greater than the proceeds of the total amount of the claims, pat loan balance, which effectively reduces the cost of risk.

Pat - CEO Zhang Jun said, security agencies and the P2P cooperation is a possible direction. For third party mechanism for security, certainly more than their principal advance much safer, but different agencies may not match, for example, face the customer is too small, the third party agencies are not willing to do the problem.The P2P industry is ultimately a lending business, "combination of Guarantee Corporation +P2P" can obtain the expected effect, but also rely on the market to test.

In the illegal fund-raising

The central bank survey found, individual P2P network lending platform agents to the public sales of prepaid card. The prepaid card in the enterprise Chinese "Dead Sea", Beijing water cube water park, Fengtai water cube, Chongqing Longmen front resort use. Prepaid card worth 5000 yuan,According to the twenty percent off sales, due the unused portion can repurchase according to the annual rate of return of 12%. "The business through intermediary institutions to the public sales of prepaid cards, has actually becomeThe new financing means." Research Report shows that central bank Liu Yannan saidPrice, price repurchaseThe way of raising funds, in fact, online also occurred frequently. The Central Bank of the prepaid card management has been a long time -- in 2010 September, the central bank issued the "non financial institution payment services management approach" requirement, not the central bank approval, any non financial institutions and individuals shall not engage in or engage in business; in 2012 September, the central bank issued the "pre paid Payment institutions approach" management card business, real name registration requirements more than 10000 yuan prepaid card.

　"Someone with the name of P2P, the actual sale of financial products, engaged in credit guarantee, this are beyond the category of P2P, then, it do what business, they should accept the supervision of relevant departments." Bai Chengyu said.