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    The problems existing in the risk management of the Chinese P2P loan industry

    The main drawback in the risk management done for the P2P lending industry is the fact that many of the customers that request for loans over the platform are those with poor credit rates. In particular, the data provided by the respondents highlighted that about 76 percent of the customers that request for loans from P2P lenders are the one that has low credit grades, even according to the ranking of the P2P lending websites. On average, the customers of P2P lenders will be the ones that have been rejected by traditional lenders, due to their history and their low credit ratings. One fact that became apparent from the information provided by lenders, borrowers, and other respondents reached during the study was that the average customer will have suffered one judgement record in the past, and will also report some delinquencies. The indication of the profile of the average borrower that requests for a loan from P2P lenders is that they will have encountered problems repaying a loan earlier. The information about the potential borrower should lead to the conclusion that they could default repaying the current loan, but considering that it is the majority, they are still offered the credit facilities.

     

    The information generated from the study also indicated that more than half of the borrowers (60 percent) of the borrowers are those pursuing business as a secondary source of income. Still, others are those doing the business they are using to request for financing, as a hobby, noting that they were primarily engaged in full employment in some other industry or sector. In particular, more than half of the borrowers indicated that they were in full employment, which suggests that they were less likely to offer the businesses that……………………………….

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