中国互联网结构化产品的法律规制

Abstract

Chinese Fintech(Financial Technology) market has attracted the attention of the world. However, the reason of the prosperity of Fintech is because of China's traditional financial industry which is under the national monopoly. Therefore, Fintech is one of the important measures of promoting the China's traditional financial system. Structured Fintech Products are the structured products based on the internet platform. Recent years, internet companies have begun to enter into the structured products market. Especially, P2P companies are the most affirmative. Because of the low interest rate, P2P companies have to develop financial products which have hybrid structure in order to attract investors. According to the types of internet platforms, the wide range of structured fintech products in market can be classified into two types which are P2P structured products and P2F structured products. The structure of P2P structured products is “P2P debt + option”. As the extended concept of P2P, P2P structured products are still a kind of P2P debt products. However due to hybrid structure, the coordination of financial monitors is urgently demanded. The structure of P2F structured products is “P2F debt + financial products”. Generally speaking, the independent P2F platforms have higher risk than traditional financial institutions’ P2F platforms. Therefore, the P2F structured products based on the independent P2F platforms should be strictly regulated.