Peer-to-Peer　(P2P)　lending　provides　online　users　an　innovative　loaning　and　investment　vehicle　without　the　intermediation　of　financial　institutions.　However,　the　research　on　online　P2P　lending　is　still　scarce.　In　this　study　we　review　relevant　literature　and　conduct　a　comparative　study　of　online　P2P　lending　practices　in　the　USA　and　China.　We　find　that　two　categories　of　credit　information,　＂hard＂　and　＂soft＂　information,　may　have　profound　influences　on　lending　outcomes　in　both　countries,　but　lenders　in　China　is　more　reliable　on　＂soft＂　information.　This　study　provides　valuable　insights　for　future　research　and　practices　and　enriches　the　understanding　of　online　P2P　lending　across　countries.　©　Dongyu　Chen　and　Chaodong　Han,　2012.