At the end of 20 15, the CBRC, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, the State Internet Information Office and other departments, studied and drafted the Interim Measures for the Management of Business Activities of Information Intermediaries in Peer-to-Peer Lending (Draft for Comment), and determined that the overall principle of supervision of the online lending industry is that market self-discipline is the mainstay, supplemented by administrative supervision. P2P was cancelled from the entry threshold and changed to negative list management. It is clearly stipulated that online lending institutions shall not absorb public deposits, set up fund pools, provide guarantees or promise to protect capital and interest.

Twelve forbidden behaviors of P2P.

(1) Using the Internet platform of the institution to finance itself or its affiliated borrowers;

(2) directly or indirectly accepting and collecting the lender's funds;

(3) Providing a guarantee to the lender or promising to protect the principal and interest;

(four) to publicize or recommend financing projects to unregistered users of the real-name registration system;

(5) Granting loans, except as otherwise provided by laws and regulations;

(6) Time limit for splitting financing projects;

(seven) sales of bank wealth management, brokerage asset management, funds, insurance or trust products;

(eight) in addition to peer-to-peer lending as stipulated by laws, regulations and relevant regulatory provisions, any form of mixing, bundling, investment agency, sales agency, promotion and brokerage business with other institutions;

(9) Deliberately fabricating and exaggerating the authenticity and income prospects of financing projects, concealing the defects and risks of financing projects, making false one-sided propaganda or promotion by vague language or other deceptive means, fabricating and disseminating false or incomplete information, damaging the commercial reputation of others and misleading lenders or borrowers;

(ten) to provide information intermediary services for financing investment in the securities market;

(eleven) engaged in equity crowdfunding, in-kind crowdfunding and other businesses;

(twelve) other activities prohibited by laws and regulations and regulatory provisions related to peer-to-peer lending.