Author(s)

Zhiqiang Cai ¹, Chuyu Zhang ²

Affiliation(s)

¹ School of Economics and Management, Qinghai Minzu University, Xining, Qinghai, 810007, China
² School of Education and Physical Education, Yangtze University, Jingzhou, Hubei, 434023, China

Corresponding Author

Chuyu Zhang

ABSTRACT

Borrowers complete the financing of monetary funds using direct financing with the help of private lending. Due to the lag of civil law, commercial law, financial law, and administrative regulations, the boundary between the civil and commercial attributes of private lending is blurred, and the borrower's private financing behavior is broadly intertwined with the illegal absorption of public deposits or disguised absorption of public deposits. The determination of "illegality" is blurred, and "deposit" is expanded to "funds." The boundary of the crime of unlawful absorption of public deposits straddles the domain of civil and commercial law. The criminal justice personnel has discretion in applying the crime. The expansion of discretionary power in applying this provision has resulted in "different sentences in the same case," which undermines the spirit of the criminal law of crime and punishment. To improve the civil, commercial, and financial legislation on private lending, to achieve the guidance, evaluation, prediction, education, and enforcement functions of the preceding regulations, and to maintain the modesty of criminal law, is to adhere to the rule of law state, the rule of law government, the rule of law society as a whole construction of the right. Through the efforts of many aspects, we can effectively prevent the crime of illegal public deposit-taking and promote the active and healthy sustainable development of the financial market.

KEYWORDS

Private Lending; Private Financing; Prevention; Illegal Public Deposit-taking Crime; Sustainability

CITE THIS PAPER

Zhiqiang Cai, Chuyu Zhang, Discussion on the Healthy and Sustainable Development of Financial Markets—Illegal Public Deposit-taking as a Perspective. Financial Engineering and Risk Management (2023) Vol. 6: 35-48. DOI: http://dx.doi.org/10.23977/ferm.2023.060505.

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