Abstract In the Anglo-American region, P2P online lending business has been on the rise for more than 10 years. No matter whether it is a small P2P in the region or a Lendingclub listed company with annual transactions of billions of dollars, there has not been a scam. What is wrong with China's P2P? P...
In the Anglo-American region, P2P online lending business has been booming for more than 10 years. No matter whether it is a small P2P in the region or a Lending club with a multi-billion dollar annual trading volume, there has been no scam. What is wrong with China's P2P?
P2P in the world only has a scam in China
One of the most embarrassing things in the booming Internet finance boom is the number of P2P platforms that have grown in the past two years. Recently, keywords have changed from "high returns" to "scams." Employees with tens of thousands of employees, CCTV, and e-rental, which claims to have a transaction volume of more than 75 billion yuan, became the latest institution to be investigated due to operational norms. Some media even counted, and only one month has been exposed to violations. There are dozens of P2P platforms that have fled.
The concept of "P2P" (peer to peer) began to rise from the United States and the United States 10 years ago, mainly referring to personal-to-personal "peer-to-peer" microfinance, which has taken root throughout the world for many years. But the strange thing is that in the Anglo-American region, whether it is a regional small P2P, or a listed company Lending club with annual transactions of billions of dollars, there is no scam. What is the P2P in China? In the past two weeks, the author has attended the "Hong Kong Maker Festival" and Finnovaisa and other international Internet finance forums in Hong Kong. Representatives from all over the world have expressed confusion about the large number of violations and "running" cases on China's P2P platform.
However, the answer is actually not complicated - those "P2P scams" are scams from the beginning, not P2P at the beginning.
The mainland's vast investors have several rather ridiculous misunderstandings about P2P. One is that P2P is a financial institution, which involves complex financial product structure. However, as mentioned above, the concept of P2P is actually very simple and does not involve structural financial products. Zhang Zhengfen, the founder of two Internet finance forums and one of the only online P2P loan platforms in Hong Kong that is mortgaged by real estate, pointed out that the P2P online lending platform should be the lender and borrower. The platform that matches the information itself cannot absorb deposits.
For example, the operation mode of “step by step loan†is to hold the license of the money lender, lend the loan to generate the creditor's right, the lender mortgages the property, and the company transfers the ownership and income of the credit to the investor, which is the real loan. people". Zhang Zhengfen pointed out that "any loan will be risky and have bad debts, but this is only the risk of default on the loan. The P2P platform itself acts as an intermediary and will not owe it to debts." She stressed that the most important thing as an intermediary platform is to provide funds to both borrowers and lenders. And the clear message of the project, "If there is a default, you can auction the property as a mortgage."
As an intermediary, the income of a P2P platform itself should be only a service fee. However, it claims to be a “financial leasing†model to generate creditor's rights and transfer it to investors. The platform is frantically financing more than 70 billion yuan, claiming to buy the quality assets designated by the lessee, but the investors do not know their own money. In fact, how to use it. Although the industry has repeatedly pointed out that the financial leasing income is only about 8%, but it provides investors with 13% of the annualized project income, plus its expansion scale, sky-high price advertising and so on, the cost-benefit is obviously misplaced, but investors still Losing reason in the face of high returns.
Another misunderstanding of investors about P2P scams is that online P2P is a new thing, in the "initial stage", so some are not standardized enough. However, the facts are very cruel. The P2P industry insiders interviewed by the author pointed out that the various P2P scams that appeared in the past were Ponzi schemes that were draped in the "Internet finance" coat to make money. It was definitely not "not standardized" or "wind". Insufficient control and "poor management" can be summarized.
Even if we don't talk about mature markets, the overall development of Internet finance in Hong Kong is more advanced than that in the Mainland. There are only a handful of companies, and there is no P2P regulatory system. However, there have been no accidents on similar platforms. Traditionally operating small loans and individuals. Thousands of financial companies with loans as the main industry have never seen “scams†​​or “running the roadâ€.
Another online loan platform, Monexo, founded by Mukesh Bubna, the former top executive of Citibank, is even simpler. He didn't even apply for a money lender license from the government. The form is more like an "online shop". As long as he is 21 years old, he can hold a Hong Kong identity card. To open an account, you must have a local bank account. Then the platform divides the borrower's “credit rating†into 8 grades, and the loan interest rate ranges from 7% to 20%. After each item is “listedâ€, the eligible lenders participate in the “purchaseâ€, and the loan passes through the third-party trust account. The lender transfers to the borrower. The revenue of the platform is only the service fee, and the borrower and the lender are charged a fee equivalent to 2.5% and 1.5% of the loan amount respectively.
Insiders pointed out that whether the borrowing through the P2P platform is safe or not depends on the completeness of supervision, but rather on the transparency and completeness of various information networks. For example, in Hong Kong, the unified credit system covers all types of loan records of most residents in Hong Kong. Under the guidance of the regulatory authorities, it is difficult for borrowers to obtain loans that exceed their repayment ability, which reduces the possibility of default. At the same time, the process of buying, selling, mortgage, auctioning, etc. of a second-hand property in Hong Kong is very efficient and transparent. It is almost impossible for lawyers to participate in the service, and there is almost no possibility of false trading or false mortgage.
Hong Kong's P2P platforms emphasize the same concept - "transparency." Compared with the operation of similar platforms in the Mainland, which requires a large amount of due diligence work, it is sufficient to operate P2P in Hong Kong without even having to set up special personnel to conduct investigations.
The author also points out that another misunderstanding of the P2P platform that mainland investors have recently appeared is that "p2p is a scam." Despite the endless stream of scams in the P2P coats in the Mainland, even one research said that one-third of the P2P platforms are fraudulent, but the P2P industry will not go down because of the risk of scams. On the contrary, P2P is represented on the Internet. Private lending or private financing that is further prosperous under convenient conditions is simply an irresistible trend.
Even in Hong Kong, the Asia-Pacific financial center, the traditional financial system is still difficult to meet for personal loans and small loans. For the lender, the current property mortgage to the bank can only be loaned to 50% of the market value, because the government is regulating the real estate market, while the traditional lending financial company uses its own funds to lend and therefore has high interest rates, which can be classified as usury in the Mainland. category. For ordinary individuals and families who are not enterprises and rich people, in addition to depositing banks and buying fund stocks, idle funds have not been used to obtain higher income channels through lending.
Growing P2P institutions fill this gap, greatly reducing the cost of personal lending, and at the same time providing a higher return investment channel for ordinary investors who have limited funds and can't reach the “high net worth customers†threshold of the bank, even if Only in the initial stage, but it has also become a strong opponent of the bank's private loan business. A director of the local small banking product department, who did not want to be named, said that the online lending platform business is more flexible and less costly. At present, it has already had a certain impact on the personal loan and property mortgage business, and the business involving depositing funds in the bank is temporarily suspended. It is not affected, but it does not rule out that P2P will bring competition to the bank wealth management business in the future.
In addition to the local market, the emerging Hong Kong P2P platform has also found the need for overseas investment in the Mainland. Monexo Chief Executive Mukesh Bubna said that the government now supports the development of Internet finance, and the regulatory environment is relatively open. In addition to the current few companies, many companies are preparing for P2P online lending business, and many hope to enter the mainland market. Zhang Zhengfen of "Step by Step Lending" revealed that the company currently has a lot of loans from the mainland to come to Hong Kong. In the short term, the proportion of investors in the two places has reached 1:1. In the future, it is believed that mainland investors will account for a higher proportion. .
(The author of this article: After graduating from Peking University, I went to Hong Kong to study abroad. I have been working for many years and I have experienced the turmoil of the international financial center.)
Rubber Elastomeric Pad
Description of Pad
Name:rubber bridge bearing
Material: multilayer natural rubber
Featurer: enough vertical stiffness to support vertical load
could deliver the pressure of superstructure to abutment
Elastoplast bridge bearing pad
We can produce all kinds of rubber pad:
1. Rubber pad for car lift .
2.Anti slip rubber pad
3.Anti vibration rubber pad
Widely used in industry,agriculture,including building,automotive sealing profiles, sealing or decorating of windows, doors, curtain walls, containers,cars etc,avoiding dust,water or air to leak inside the cabin,as it's Excellent chemical and physical property, oil resistance, high temperature stability, etc.
Rubber Block Board Series
Rubber Block Board,Anti-Vibration Rubber Pad,Vibration Isolating Rubber Pads,Rubber Anti-Vibration Pad
Renqiu Xingcheng Rubber Products Co., Ltd. , https://www.xingchengrubber.com
