Growing of China Credit Database

 

 

Keywords:  credit, database, credit database, companies, individuals, due diligence, derogatory information,

                   investigate, risk, insurance

 

China's credit database grows by 40 million people, and is to become the world's largest.

 

China's credit database had records for 640 million people at the end of 2008, up 40 million from a year earlier, according to the information disclosed by Su Ning, who was the Vice Governor of the People's Bank of China (PBOC, the central bank)

 

The database also covered 14.47 million companies, up about 1.4 million from a year earlier.

 

The People's Bank of China established the database at the end of 2004 to help commercial banks reduce their loan risks. The database, according to the PBOC, is the largest credit information pool in the world.

 

The database includes loan, credit card use, insurance and bill payment information of individuals and companies, which is able to help individuals and enterprises to investigate the due diligence, credit or derogatory information of the subjects they would like to know.

 

Individuals can view their credit file by presenting their ID cards at local PBOC branches or by phone.

 

Source: http://news.xinhuanet.com/english/2009- 03/16/c ontent_11022369.htm 

 

 

 

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