School of Law

Research Student: Lerong Lu

The Regulation of Private Lending in China

Photo of Lerong Lu

My doctoral thesis investigates how to design an optimal regulatory framework for shadow banking system, by using China’s private lending market as an example. My research interests lie primarily in banking and finance law, covering traditional topics of banking and securities regulation, as well as the latest financial technologies (Fintech) like online peer-to-peer lending and mobile payment system.

I am a teaching assistant for the Centre for Business Law and Practice. I teach the LLB module: Banking and Financial Services Law.


I hold a Master of Laws (with Distinction) from the University of Leeds, and Dual Bachelor’s Degrees of Law and Finance from the East China University of Political Science and Law. I have been practicing law as a qualified attorney in the People’s Republic of China.


  • Lu L and Lu L, ‘Unveiling China’s Stock Market Bubble: Margin Financing, the Leveraged Bull and Governmental Responses’, Journal of International Banking Law and Regulation, 32.4 (2017), 146-160.
  • Lu L, ‘Private Banks in China: Origin, Challenges and Regulatory Implications’, Banking and Finance Law Review, 31.3 (2016), 585-599.
  • Lu L, ‘Runaway Bosses in China: Private Lending, Credit Crunches, and the Regulatory Response’, Financial Regulation International, 18.9 (2015), 1-13.


Conference Papers

  • Lu L, ‘The Financing Dilemma of Private Businesses in China: Runaway Bosses, Credit Crisis and Governmental Responses’ (Asian Law and Society Association Annual Conference 2016, National University of Singapore, September 2016)
  • Lu L, ‘The Rise of P2P Lending: Alternative Finance for Chinese Entrepreneurs’ (The Challenges of Commercial Law in the 21st Century: ICCL 2016 Annual PGR Conference, Durham University Law School, June 2016)
  • Lu L, ‘Alternative Financing for Small and Medium-sized Enterprises in China’ (7th Queen Mary Postgraduate Legal Research Conference 2016, Queen Mary University of London, June 2016)
  • Lu L, ‘Financial Exclusion of Small and Medium-sized Enterprises in the UK’ (Cultures of Credit Workshop: Interdisciplinary and Comparative Perspectives on Financial Exclusion, Leeds University Business School, April 2016)
  • Lu L, ‘Solving Financial Inequality for Smaller Businesses in the UK’ (CBLP Seminar, School of Law, University of Leeds, February 2016)
  • Lu L, ‘Unveiling China’s Stock Market Bubble: Margin Financing and the Regulatory Response’ (International Postgraduate Legal Conference 2016: Emerging Issues in Law, University of Liverpool, January 2016)
  • Lu L, ‘Challenges and Changes of Chinese Banking Sector’ (ESSL Postgraduate Research Conference 2015, University of Leeds, March 2015)
  • Lu L, ‘China’s Deposit Insurance and Transformation of Banking Sector’ (CBLP Seminar, School of Law, University of Leeds, February 2015)
  • Lu L, ‘Runaway Bosses in China: The Prevalence of Private Loans and the Regulatory Implication’ (CBLP PhD Conference 2014, School of Law, University of Leeds, November 2014)

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