《中国流通经济》2018 年总目录 本刊编辑部

（East China University of Political Science and Law，Shanghai200042，China）

Abstract：Entering the era of innovative Internet finance，low cost，high efficiency，transparent information，and risk control have become commercial terms in the online lending industry. It is undeniable that Internet finance has solved the problem of financing difficulties for SMEs and individuals to a certain extent. However，the explosive growth of China's online lending platform and the social problems brought about by the online lending industry in the new financial industry cannot be underestimated. With the intensification of industry supervision，the illegal behaviors of the fictional target of the online lending information institution，the private fund pool，the direct and indirect self- financing，and the demolition of capital projects have gradually surfaced，which has been recognized by the public. Although the time for the rise of online lending information institution in China and the United States is relatively synchronous，they are different in terms of online lending qualitative，government regulation，regulatory requirements，business models，and product structure. Tracing the evolution process of the securities registration system of online lending information institution，the United States has gradually adopted the“hard to get in，but easy to stay in”supervision mode，and formed a complete and unique supervision system attached to the "securities" field，and carry out the macro，comprehensive，and systematic supervision on online lending information institutions. To solve the dilemmas facing this industry in China and guarantee the healthy，harmony，stable，orderly，and effective development of this industry in China，we should learn the relative experience of America. Specifically，we should transform government regulatory functions scientifically， unify the normative documents between regions，establish and improve the credit information system，reform the information disclosure mechanism，improve the protection of customer privacy，and strengthen the punishment of the violation institution.

Key words：internet lending；information institution；supervision system；institutional reform