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Borrowing from cleaning of illegal absorbing public savings and private lending

September 2012, Huludao city, Liaoning province, the Public Security Bureau in accordance with provincial direction, went to panjin clean private lending, by nearly two years in charge of the case studies, the author finds that illegal pooling of public deposits and lending expansion of this charge is still extremely common phenomenon. Judicial practice in some parts of some private lending practices in the crimes. Many cases did not consider absorbing funds were illegally engaged in enterprise or individual capital, money management as the goal is to address the corporate or personal development requirements; regardless of whether freedom of access, damaging consequences. The expansion of the currency and break after WTO entry financial monopolies and encourage competition in financial markets, the gradual legalization of informal financial trend is completely contrary to the, if the tendency to allow this expansion continues to develop, will hinder the development of China's financial market.

a theoretically "crime of illegal absorbing public deposits" expansion

"crime of illegal absorbing public deposits" as: illegal absorbing public would have put it in the bank deposits of all financial institutions. Reason: because it is for a business or individual to absorb or borrowing, making bank deposits reduced actors while on the "depositor" caused loss of property and banking must be reduced and the banks responsible for the loss. Thus, the harm of the crime is not only harm to the financial order, but also for the interests of the monopoly of financial institutions against, so that monopolies harm the financial profit and harming financial order mixed up. Therefore, essentially, the crime of illegal absorbing public deposits of enlargement will inevitably lead to monopolization of financial institutions strengthened. From a long-term perspective, and do so not only for banks and other financial institutions have more harm than good, and would hamper the normal development of private lending. Therefore, it is necessary to distinguish between crime of illegal absorbing public savings and private lending.

Second, analysis of crime of illegal absorbing public deposits

with China's reform and opening up policy implementation and national economies are increasingly active, the rising standard of living of citizens, cash on hand and deposits is also increasing. Especially with socialist market of gradually development, national financial markets of enliven, market increasingly prosperity and market subject independent right of expanded, some personal and company, and enterprise to development production or expanded business, tried, and trying to raised funds, some then development to violation national financial regulations, unauthorized absorption public funds or disguised absorption public funds, for illegal fund-raising activities, which some financial institutions also in mutual competition in the for illegal absorption public deposits of activities. These acts are not only seriously disrupt the normal order of financial administration of the State, returned to the country and citizens has brought great financial risk, and led to many civil disputes and criminal offences. For, May 1995 eighth people National Standing Committee through of commercial banks method 11th article specifically provides: without people's Bank of China approved, any units and personal shall not engaged in absorption public deposits, commercial banks business, any units shall not in name in the using "Bank" words; its 47th article provides, commercial banks shall not violation provides improve or reduced interest rate and using other not due means, absorption deposits, issued loan; its 79th article also special provides: without people's Bank of China approved, Any establishment or illegal pooling of public deposits in commercial banks. Absorbing public deposits in disguised form, criminal responsibility shall be investigated according to law, and by the people's Bank of China shall be banned. In June, the VIII session of the national people's Congress adopted the decision on punishment of crimes of disrupting financial order, its seventh article of crime of illegal absorbing public savings. This is the first time the crime established in the form of special criminal law and sets out the corresponding penalties.

third, illegal absorbing public deposit of borrowing the difference

in real life, private lending is very common. Borrowing not only among citizens, and businesses and other organizations to finance the housing, roads or public welfare, as well as investment for shares of workers in situations such as the reform of enterprise. Although these are reflected in return on capital and interest, particularly among the citizens of borrowing generally agreed with interest but not illegal, does not need approval of the banking regulatory agencies. Moreover, these lending practices are also protected by the law.

from the State permits the private lending (in fact not prohibit) the facts know that laws prohibiting illegal pooling of public deposits, not citizens, enterprises and organizations absorbing funds, but rather to prohibit unauthorized citizens and other organizations engaged in financial business, such as financial institutions, with the absorption of funds to lend to make capital and currency management. Be able to absorb funds for capital and money management, is what distinguishes it from other sectors of the financial industry. Therefore, the crime of illegal absorbing public deposits within the meaning of "deposits" are from the capital, currency, business sense. Only in the sense of "deposits" to explain differences between lending and bank deposits, to find the legal lending limits of illegal absorbing public deposits. Otherwise, it will be difficult to avoid such a mechanical reasoning logically untenable situation--one person or unit to borrow even from ten people to 100 people servicing the borrowing, lending, isn't illegal pooling of public deposits to more people for its debt is treated as an illegal pooling of public deposits. In order to distinguish, I think it is necessary to be clear, that is, on "illegal pooling of public deposits" and "absorbing public deposits in disguised form" should be increased on the definition of "illegal practice of operating capital, money for the purpose" statement.

in short, identified as illegal the crime of illegal absorbing public deposits in capital, defined in terms of monetary management. If just absorbing the social funds for personal development or expansion of enterprises ' production and management, without capital, money management, even without the approval of the banking regulatory agencies, should not be identified as illegal pooling of public deposits.