COMPETITIVE SITUATION IN THE FIELD OF FINANCIAL INTERNET PLATFORMS AND ITS LEGAL REGULATION IN CHINA

Abstract

The economic characteristics of an online financial platform make it easy to form a monopoly, which has an impact on the healthy development of the digital economy of different countries of the world, including China. This study is aimed at analyzing the state of development of Internet financial platforms, as well as the current situation with antimonopoly regulation in this area in China by collecting relevant information about the country's digital financial platforms and discussing the factors behind this in order to study and evaluate the rational way of antimonopoly regulation in the field of platform economy. It seems that in recent years, such developing financial Internet platforms as a third-party payment system, a P2P platform, and an online microfinance company have appeared in China; crowdfunding platform, etc. Among them, competition mainly exists between traditional financial organizations (banks) and third-party online payment platforms. In order to effectively protect fair competition between financial platforms, timely improvement of national antimonopoly legislation is required.