Legal basis: Guiding opinions of China People's Bank, Ministry of Industry and Information Technology, Ministry of Public Security, Ministry of Finance, State Administration for Industry and Commerce, Legislative Affairs Office, China Banking Regulatory Commission, China Securities Regulatory Commission, China Insurance Regulatory Commission and National Internet Information Office on promoting the healthy development of Internet finance. Peer-to-peer lending includes personal peer-to-peer lending (P2P peer-to-peer lending) and online microfinance. Personal peer-to-peer lending refers to direct lending between individuals through the Internet platform. Direct lending on the personal peer-to-peer lending platform belongs to the category of private lending, which is regulated by the Contract Law, General Principles of Civil Law and other laws and regulations as well as relevant judicial interpretations in the Supreme People's Court. Personal peer-to-peer lending should adhere to the platform function and provide intermediary services such as information exchange, matchmaking and credit evaluation for investors and financiers. Personal peer-to-peer lending institutions should clarify the nature of information intermediary, mainly providing information services for direct lending by borrowers and borrowers, and not providing credit enhancement services or illegal fund-raising. Network micro-loan refers to the micro-loan provided to customers by Internet companies through their holding micro-loan companies. Network microfinance should abide by the existing regulations of microfinance companies, give full play to the advantages of peer-to-peer lending, and strive to reduce the financing costs of customers. P2P loan business is supervised by China Banking Regulatory Commission.