在28日举行的中国财富管理系列论坛上，记者了解到，随着互联网技术普及和金融多层次需求的发展，网络借贷公司扎堆出现，并且以“门槛低、收益高”的优势在民间金融市场抢占一席之地。据悉，有一些网络借贷公司除了充当民间借贷中介的角色外，还扮演起财富管理专家，为“投资人”推荐理财产品甚至代客理财以及为信托公司推介产品。

In the 28 at the China wealth management series on the BBS，The reporter understands，Along with the Internet technology popularization and the development of financial multi-level demand，Network lending company gathers together appear，And to“Threshold low、Gains high”The advantage in the folk financial market take a place。It is reported，Have some network lending company in addition to act as folk lending intermediary role outside，Also play up wealth management experts，for“investors”Recommend financial products and even valet financial management as well as the trust company promote their products。

　　接受《经济参考报》记者采访的不少业内专家认为，当前网络借贷的贷款总规模已超过60亿元，这种市场上成为“点对点(P2P)信贷”的模式，虽然被认为是发展民间金融的有益尝试，但它仍是中国影子银行系统的一部分，由于法律规范和监管存空白，因此，网络借贷极容易诱发当前影子银行风险扩大。

accept《Economic reference to》The reporter interviewed the expert inside course of study thinks a lot，The current network lending loan total scale has more than 6 billion yuan，The market become“Point to point(P2P)credit”model，Although thought is to develop the folk finance the beneficial attempt，But it is still part of the shadow banking system in China，Due to the laws and regulations and regulatory save blank，therefore，Network lending extremely easy to cause the current risk shadow Banks expand。

　　现象 phenomenon

　　网络借贷平台疯狂“圈地” Network lending platform crazy“enclosure”

　　网络信贷起源于英国，随后发展到美国、德国和其他国家，其典型的模式为：网络信贷公司提供平台，由借贷双方自由竞价，撮合成交。资金接触人获取利息收益，并承担风险；资金借入人到期偿还本金，网络信贷公司收取中介服务费。

Network credit originated in the United Kingdom，Then development to the United States、Germany and other countries，The typical model for：Network finance company to provide the platform，By borrowing the free bidding，Brokered transactions。Capital contact people get interest income，And bear the risks；Funds borrowed to repayment of principal，Network credit company collection intermediary service。

　　据了解，国内网络借贷公司普遍利用网站提供服务平台，借贷双方可以直接交流。据宜信卓越财富投资管理有限公司(以下简称“宜信”)工作人员介绍，在网络借贷过程中，资金借出人所收取的年利率大概在10%左右，资金借入人所要负担的月利率在1.5%到2.5%之间，折合成年利率则为18%到30%，由此可推算，该网络公司收取的中介服务费可在10%以上。

It is understood，Domestic network lending companies generally use web site provides service platform，Lending to communicate directly between both sides。According to the appropriate letter remarkable wealth investment management co., LTD(Hereinafter referred to as“Appropriate letter”)Staff introduced，In the network in the process of borrowing，Funds lent out people charged by the annual interest rate at about 10%，Funds borrowed people to afford the monthly interest rate is between 1.5% and 2.5%，Reduced adult rate of 18% to 30%，Which can be projected，The network company collection for the intermediary service can be in more than 10%。

　　由于网络信贷公司并不向社会披露信息，因此其行业规模难以统计。但据业内分析人士估算，普通规模的“人人贷”上半年交易量达到1.3亿元，全年预计接近3亿元；规模较大的“宜信”近年来总交易量接近20亿元；国内约有几百家网络信贷公司，该行业年交易量至少达到几百亿人民币。

Because the network finance company is not to the disclosure of information，So the industry scale is difficult to statistics。But according to industry analysts estimate，Ordinary scale“Everyone credit”In the first half of the volume reached 130 million yuan，The whole year is expected to close to 300 million yuan；large“Appropriate letter”In recent years the total trade volume of nearly 2 billion yuan RMB；Domestic about hundreds of network finance company，In the industry volume at least billions RMB。

　　中信证券(600030,股吧)分析师认为，在中国的4200万中小企业中，只有3%能得到银行贷款，而36.7万亿元人民币的家庭存款放置在银行中，其中一般家庭存款为活期存款，年利率只有0.35%，另外一半年储蓄率也仅为3%，这给中国的理财市场带来了广阔的空间，网络借贷公司瞄准这一市场后则想借此转型进一步“圈地”。

Citic securities(600030,guba)Analysts believe，In China's 42 million small and medium-sized enterprises，Only 3% can get bank loans，And 36.7 trillion yuan RMB family deposits placed in the bank，The average household deposit for current deposit，The annual rate of only 0.35%，The other half year savings rate is only 3%，This to China's financial market with a broad space，Network lending company aim at the market, want to take this further after transformation“enclosure”。

　　8月28日，宜信公司CEO唐宁在中国财富管理系列论坛上，阐述了宜信发展理财的新理念，“我们将利用B2B的理财方式，为客户提供财富管理，以及包括提供税规划，遗产规划等等的各种增值服务。”这意味着，宜信将借此进一步在金融市场中“圈地”。

On August 28,，Appropriate letter company CEO downing in China's wealth management series on the BBS，This paper expounds the appropriate letter financial development the new idea，“We will use the B2B financial management mode，To provide wealth management，And including provision of tax planning，Estate planning and so on various value-added services。”This means that，Appropriate letter will take this further in the financial market“enclosure”。

　　在宜信的网站上，记者从产品资料中发现，其大多数业务已冠有“理财”的字样，其主要业务包括专业理财测评、个性理财方案、稳定投资收益、创新公益理财四大类。

In the appropriate letter website，Reporters from products found in material，Most of its business already coronal“financial”"，Its main businesses include professional financial evaluation、Personality financing scheme、Stable investment income、Innovation of public finance four major categories。

　　“事实上，目前推出理财产品的网络借贷公司不在少数，一般而言保本型产品的年收益率在13%以内，非保本型最高年收益率达24%。公司发布公告称，今年上半年有1700名资金需求者向超过1万名理财者募集了资金。”一家国内知名的网络信贷公司“人人贷”的工作人员介绍。

“In fact，At present financial product launch network lending company is not in a few，Generally speaking break-even type products within 13% annual rate of return，The break-even type the highest annual return of 24%。The company announcement said，In the first half of this year 1700 capital demanders to more than 10000 financial person raised funds。”A domestic famous network finance company“Everyone credit”Staff said。

　　并且，《经济参考报》记者还观察到，今年以来，更有不少网络借贷公司欲摆脱“灰色身份”开始进驻民间金融市场。温州市金融综合改革试验区设立后，四家网络借贷平台即“人人贷”、“速贷邦”、“宜信”和“攀远民间借贷网”，已经确定进驻温州民间借贷登记服务中心。

and，《Economic reference to》Reporters also observed，Since this year，More many network lending to get rid of the company“Grey identity”Start in the folk financial markets。Wenzhou financial comprehensive reform pilot area is set up，Four network platform that is lending“Everyone credit”、“Speed credit nations”、“Appropriate letter”and“Climbing far folk lending net”，Have been confirmed in wenzhou folk loan registration service center。

　　隐忧 malaises

　　影子银行系统扩大暗藏风险 The shadow banking system to expand hidden risk

　　有统计表明，自2007年以来，全国范围内创办的个人对个人的借贷网站共有2000多家。在2011年上半年，通过网络实现的贷款额比2007年全年增加了300倍，达到60亿元人民币左右，今年还在进一步大幅上升。业内分析人士认为，尤其是当推出理财产品成为网络借贷公司圈钱的新渠道之后，金融脱媒的现象愈发会加剧。

Statistics show that，Since 2007，A nationwide personal founded for personal lending site more than 2000 home。In the first half of 2011，Through the network realization of loan specified amount in the whole year of 2007 than increased by 300 times，Reach 6 billion yuan or so，This year also rise sharply in further。Industry analysts say，Especially when out of financial products become network lending company circle money after new channels，Financial disintermediation phenomenon more will aggravate。

　　“中国为应对全球金融危机实施了两年的刺激开支政策，此后银行在2010年收紧银根，网络借贷由此在中国迅速发展起来。可以说，当前60多亿元的规模，已经构成了中国影子银行系统中的一部分，而监管层正试图将影子银行系统和民间借贷纳入到监管中。”农业银行(601288,股吧)战略规划部副处长付兵涛认为。

“China to cope with the global financial crisis, the implementation of two years of stimulus spending policy，Since then the bank in 2010 to tighten monetary policy，Network lending thus developed rapidly in China。Can say，The current 60 more than one hundred million yuan scale，China has become part of the shadow banking system，And supervision layer are trying to the shadow banking system and folk loan into the supervision。”Agricultural bank(601288,guba)Deputy director of strategic planning FuBing that out。

　　早在去年9月份，银监会就对网络借贷机构发出警告，称其贷款的不良率大大高于商业银行，同时，银监会还警告说这类公司可能从事违法活动，如欺诈、资助非法企业或洗钱，此外，银监会也明确表态严防人人贷中介公司帮助放款人从银行获取资金后用于民间借贷，防止民间借贷风险向银行体系蔓延。

As early as in last September，The CBRC to network lending institution warned，Says its loans defect rate greatly higher than commercial Banks，At the same time，The CBRC also warned that this kind of company may engaged in illegal activities，Such as fraud、Fund illegal enterprises or money laundering，In addition，The CBRC also clearly declare take strict precautions against everyone credit intermediary company help loan from the bank after access to funds for folk loan，Prevent folk credit risk to the bank system spread。

　　接受采访的专家普遍表示，当前网络信贷游离于法律监管之外，蕴藏着巨大的金融和社会风险，其中一点就是准入机制不明确。

The interview of experts generally said，The current network credit free legal supervision outside，Contain a great financial and social risk，One is the access mechanism is not clear。

　　据了解，在美国，网络信贷被归为信贷类理财产品，有美国证券交易委员会批准准入。网络信贷企业必须取得证券经纪交易商牌照方可经营。而在我国，网络借贷大多是以电子信息发展、投资咨询和高科技信息产业等名称进行注册登记，现有的法律并未对这类公司从事金融信贷业务作出相关规定，其经营主体的合法性也受到质疑。

It is understood，In the United States，Network credit referred to as credit class financial products，Has the United States securities and exchange commission approval access。Network credit enterprise must obtain securities brokerage dealers license can business。While in our country，Network lending mostly by using electronic information development、Investment consulting and high-tech information industry and so on name of registration，Existing law is not about this kind of company is engaged in the financial credit business to make relevant regulations，Its business subject legitimacy also questioned。

　　天津高级人民法院二厅工作人员王泓然在接受记者采访时表示“目前我国有关民间借贷中介的法律法规是空白的，因此，对网络借贷活动缺乏法律监管。此外，人民银行、银监会、工商局、工信部等部门均未明确对网络信贷公司的管理，使其实际处于监管真空的状态。”

Tianjin higher people's court 2 hall staff WangHongRan when accepting a reporter to interview said“At present our country relevant folk lending intermediary laws and regulations is blank，therefore，The network lending activities lack of legal supervision。In addition，People's bank of、The CBRC、Industrial and commercial bureau、Work letter department and other departments are not clear to network credit to the management of the company，Make the actual supervision in vacuum state。”

　　其次，记者还在网络信贷公司“贷帮”的交流平台看到，不少借款人表示，资金安全没有得到保障，有的甚至逾期率高达20%左右。中央财经大学银行业研究中心主任郭田勇表示“网络信贷公司虽无金融牌照，但发挥了金融中介功能，其撬动的资金量巨大，金融风险不容忽视。另外，随着互联网的普及，越来越多的普通民众能够接触到网络借贷。如果这些参与者信用等级不高，或者风险承担能力不强，一旦集中出现贷款到期后无法偿还的情况，就容易引发社会风险。”

secondly，The reporter still is in the network finance company“Credit help”See the communication platform，Many borrowers said，The safety of fund, not to obtain the safeguard，Some even YuQiLv reaches as high as 20%。Central university of finance and banking research center director guo TianYong said“Network finance companies have no financial license，But played a financial intermediary function，The move of the great there，Financial risks can not be ignored。In addition，With the spread of the Internet，More and more ordinary people can access to network lending。If these participants credit rating is not high，Or risk bearing ability is not strong，Once the concentration appear after the end of the loan will not be repaid situation，It is easy to trigger social risk。”

　　对策 countermeasures

　　专家建议多领域完善监管 Experts recommend more perfect regulation field

　　“但是，在金融市场逐步向民资开放的今天，对民间金融监管的重点并不是这些民间拆借主体本身，而是要加强对正规金融机构的监管，对正规金融机构的资金流出需要加强监控。这样，整个市场的风险还是可控的。”郭田勇分析称。

“but，The financial market is gradually opening to what today，The folk finance the emphasis of supervision and not these folk lending subject itself，But to strengthen the supervision of the formal financial institutions，To formal financial institutions need to strengthen monitoring outflows。this，The whole market risk is controllable。”Guo TianYong analysis says。

　　经济学家茅于轼认为，网络信贷公司的发展，有利于改善资金供需不匹配的现状，但需要政府的合理引导。比如，对运营良好的网络信贷公司，可以引导其阳光化发展，并给予各种方式进行鼓励和支持，对于运营状况较差、大量存在违约风险的公司，应尽快注销关闭。

Economist MAO yushi, think，The development of network finance company，To improve the present situation of supply and demand of funds do not match，But need the government's guide rational。For example，To operation good network finance company，Can guide its development at the sun，And to give various ways to encourage and support，For operating condition is poor、There are many risk of default company，Should cancellation of closed as soon as possible。

　　此外，还有专家建议，应当完善的网络借贷统计监测指标体系，检测内容包括借款人信息、借款用途、偿还情况等，要求网站定时向监管部门报送数据。一旦发现贷款人有违规倾向，由监管部门督促网络信贷公司协助进行催收。同时，将网络信贷交易量纳入到金融统计及反洗钱统计范畴。

In addition，And expert advice，Should perfect network lending statistical monitoring index system，Detection contents include the borrower information、Borrowing purpose、Repayment condition, etc，Requirements website timing to submit data supervision department。Once found lenders have illegal tendency，The supervision department urged network finance company assist to collection。At the same time，Network credit volume into financial statistics and anti-money laundering statistical category。

　　事实上，就在前不久，平安集团亲自操刀也搭建起了人人贷平台，通过旗下上海陆家嘴(600663,股吧)国际金融资产交易市场股份公司推出“稳盈-安e贷”借贷服务产品“对于网络借贷平台在金融市场中的作用也不能完全否定，因此在完善监管的同时，应该避免"一刀切"，但当前的当务之急就是明确监管责任。”郭田勇认为。

In fact，Before long，Peace group when carvalho half-grabs also build up everyone credit platform，Through its Shanghai lujiazui(600663,guba)International financial assets transaction market shares the company introduced“Steady surplus - Ann e credit”Lending service products“For network lending platform in financial markets and the role of can't deny，So in perfect regulation at the same time，Should avoid"One size fits all"，But the current preoccupation is clear supervision responsibility。”Guo TianYong think。

　　南开大学经济法教研室主任万国华认为，必须要明确借贷公司的监管责任，对其准入、运营和纠纷等环节予以关注。在规范行业运营，“巨额的资金通过网络信贷平台运转，在缺少第三方存管等措施的情况下，也隐藏巨大的操作风险，巨大的资金链游离于航悦监管之外，增加了市场流动性风险，削弱了宏观调控效果，因此，建议构建网络信贷资金清算渠道，将信贷资金划入第三方(如银行)账户，禁止划入私人账户或公司账户，保证交易的安全性。”中央财经大学民生经济研究中心主任李永壮分析称。

Nankai university, director of the economic law teaching and research section WanGuoHua think，Must be clear lending company supervision responsibility，The access、Operation and dispute links such as attention。In standardizing operation，“A huge sums of money through the network credit platform operation，In the lack of a third party save tube etc measures，Also hide huge operation risk，Huge capital chain free types yue outside supervision，Increase the market liquidity risk，Weaken the effect of macroeconomic regulation and control，therefore，Suggest constructing network credit fund settlement channels，Will the credit funds into the third party(Such as bank)account，Ban into private account or company account，Ensure the safety of trading。”Central university of finance and economics, director of the center for the people's livelihood economic research LiYongZhuang analysis says。