Mutual Gold Association: solid information disclosure and product registration of P2P network lending


Mutual Gold Association: solid information disclosure and product registration of P2P network lending

Source: China Internet Finance Association website

According to the "Guiding Opinions on Promoting the Healthy Development of Internet Finance" issued by the People's Bank of China and other ten ministries and commissions, and the "Interim Measures on the Management of Business Activities of Internet Lending Information Intermediaries" formulated and promulgated by the former CBRC, and the "Guidelines on Information Disclosure of Business Activities of Internet Lending Information Intermediaries", China is interconnected The Internet Finance Association (hereinafter referred to as the Association) has formulated and promulgated the "Internet Financial Information Disclosure Individual Internet Lending" standard, and in June 2017, established a centralized, tamper-proof national Internet financial registration and disclosure service platform (hereinafter referred to as the registration and disclosure platform). Since the launch of the registration and disclosure platform, through strengthening self-discipline management and publicity and education, access agencies have been promoted to enhance their awareness of compliance disclosure, improve the timeliness, integrity and standardization of regular disclosure of information, and accept social supervision.

A few days ago, the Association announced the disclosure of information on the registration and disclosure platform of online lending member institutions in July 2008 in accordance with the relevant requirements of self-discipline management of online lending institutions. According to the circular, 103 member institutions disclosed their operation information in July 2008 on the registration and disclosure platform. Among them, the loan balance totaled 655.5 billion yuan, the total transaction value was 3840.9 billion yuan, the total number of service lenders was 36.97 million, and the total number of service borrowers was 94.27 million.

At the same time, in accordance with the plan of the State Council for the special rectification of Internet financial risks, the association has formulated and promulgated the "Internet financial individual network loan and loan contract elements" standard in the previous period, accelerated the work related to product registration, and used the registration and disclosure platform to register one by one the loan contracts made by the access agencies. To provide basic basis for the supervision department to carry out penetrating supervision. By the end of August, 2018, 66 institutions had accessed the registration and disclosure platform, 19 more than at the end of July. The total number of registered contracts was 94.31 million, an increase of 9.31 million, an increase of 11% over the end of July. The amount involved was 116 billion yuan, an increase of 17.6 billion yuan, an increase of 18% over the end of July. The number of borrowers involved was 3.6 million, an increase of 530,000 compared with the end of July. People grew by 17%.

Next, the association will continue to enrich and improve the functions of the registration and disclosure platform in accordance with the requirements of the State Council's Internet financial risk special rectification work, effectively fulfill the responsibility of self-discipline and management of the online lending industry, and lay a solid foundation for subsequent Internet lending institutions meeting the information intermediary positioning and various standards to access the registration and disclosure platform.


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