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Central bank launches online personal credit system

www.chinanews.cn 2005-07-05 16:31:30

(Source: cctv.com)

BEIJING, July 5 - China's central bank has launched an online personal
credit system in eight provinces and municipalities. Under the system,
individuals with bad credit records will find it more difficult to get
loans in regions covered by the network.
The personal credit system includes individual identity, loan information
and credit card information. Individuals who apply for loans will be
required to allow banks to make a background check on their personal
credit information.
The system will be expanded to cover the entire country by the end of the
year, collecting information from the four state owned commercial banks,
joint-stock commercial banks, city commercial banks and some rural credit
cooperatives. It is also expected the system will be expanded to include
more personal information to give lenders a better picture of loan
applicants.

          ��China to set credit standards (2005-06-30)
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(2005-03-08)

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