The credit reporting system of the People's Bank of China includes a basic database of enterprise credit information and a basic database of personal credit information. The basic enterprise credit information database was started in 1997 and became available for nationwide online inquiry in July 2006.

As of the end of last year, the database included more than 10 million companies and other organizations, of which more than 6 million had credit records. The construction of the personal credit information basic database first started in 1999. At the end of August 2005, the network operation with all commercial banks across the country and some qualified rural credit cooperatives was completed. In January 2006, the personal credit information basic database was officially put into operation. As of 2015, the database included a total of 870 million natural persons, of which 370 million had credit records.

The main users of the central bank's credit reporting system are financial institutions, which are connected to the headquarters of financial institutions such as commercial banks through dedicated lines, and extend the terminals to the credit personnel of commercial bank branches through the intranet system of commercial banks. Business counter. At present, the information sources of the credit reporting system are mainly financial institutions such as commercial banks. The information collected includes basic information of enterprises and individuals, credit information such as loans and guarantees from financial institutions, and major financial indicators of enterprises. In April 2019, a new version of the personal credit report will be launched, and defaulting on water bills may also affect your credit. Basic introduction Chinese name: People's Bank of China Credit Information System Category: System started: 1997 Records included: 870 million people (2015) Credit records: 370 million people (2015) Management organization: People's Bank of China Credit Information Background, Credit Information Credit advantages, personal credit, how to use, credit report, credit violation, credit benefits, basic data, credit center, penalty mechanism, new version features, credit background If you borrow money from a bank, then the bank needs to know who you are ; You need to determine whether you can repay the money on time; whether you have borrowed money before, and whether you have a record of not repaying borrowed money, etc. Before the credit report appears, you need to provide the bank with a series of supporting materials: employer certificate, salary certificate, etc.; the bank's loan officer will also have to call your employer and visit your home. After two weeks or even longer, the bank will Will tell you whether to lend you money. The bank is really tired, and so are you. Borrowing money is really troublesome. This specialized agency will create a "credit file" (i.e. personal credit report) for you and then provide it to various banks for use. This kind of activity of sharing credit information between banks through third-party institutions is credit reporting, in order to improve efficiency, save time, and serve you faster. With the intervention of the credit bureau and the credit report, when you borrow money from the bank, the bank loan officer can check your credit report with your consent, and then spend some time to focus on verifying some issues. Let you know quickly whether the bank will offer you a loan. The bank saves trouble and you save worry. In China, the Credit Reference Center of the People's Bank of China (hereinafter referred to as the Credit Reference Center) is a specialized agency that establishes your "credit file" and provides personal credit information to commercial banks. Advantages of credit reporting: Save time. Much of the information that the bank needs to know is already in your credit report, so you no longer need to spend so much time investigating and verifying the authenticity of the information you filled out on the loan application form. Therefore, the first benefit of credit reporting is to save you time and help you get a loan faster. Borrowing convenience As the saying goes, "It's easy to borrow and repay, and it's not difficult to borrow again." If your credit report reflects that you are a person who repays on time and fulfills your obligations conscientiously, the bank will definitely like you and will not only provide loans, credit cards and other credit services, but may also provide discounts on amounts and interest rates. Credit Reminder If it is recorded in your credit report that you have borrowed money and failed to repay it, banks must treat it carefully when considering whether to provide you with a loan. The bank will most likely ask you to provide a mortgage or guarantee, or reduce the loan amount, or increase the loan interest rate, or refuse to grant you a loan. If your credit report shows that you have borrowed a lot of money, the bank will also be very cautious and worry that you will have too much debt to bear, and may refuse to provide you with another loan. This reminds you to cherish your credit record and consciously accumulate your own credit wealth. Fair Credit Another big benefit to you is helping you get fairer credit opportunities. What the credit information center provides to banks is an objective record of your credit history. "Let the facts speak for themselves", which reduces the impact of the loan officer's subjective feelings, personal emotions and other factors on the results of your loan and credit card application, allowing you to get fairer credit. Chance.

The difference between credit and credit reporting. Credit mainly refers to economic activities such as borrowing and repaying money, consuming first and paying later. Credit reporting refers to professional credit information services. In order to make it easier for everyone to borrow money, third-party agencies will Everyone’s credit information is centralized and available to you and the credit agencies when needed. The agency that determines whether you can get a loan Credit agency? Credit reporting center? It is credit institutions such as banks that decide whether you can get a loan. The credit reference center only truthfully provides your credit report as one of the important references for banks and other credit institutions to decide whether to grant you a loan. On what basis does a bank decide whether to grant you a loan? When a bank decides whether to grant you a loan, it mainly considers the following factors: The bank's credit policy: that is, what type of people a bank is willing to lend to. For example, some banks are willing to issue credit cards to school students, while others are not. A bank's credit policy is determined by factors such as the bank's own management capabilities and its market positioning. The borrower's basic information: the borrower's work nature, living situation, financial status, etc.; The borrower's credit status: the borrower's current debt level; whether there has been a credit history of not repaying borrowed money, etc. Therefore, your credit report is only one of the references that helps banks make credit decisions, and is not the only basis. What to do if a bank denies you a loan because you have a bad record. If a bank denies you a loan because you have a bad record, you can ask the bank to explain which one or several bad records you have that are the reason for refusing to grant you a loan. Personal credit Personal credit report is your "credit file", which comprehensively and objectively records your credit activities, such as repayment of loan principal and interest, credit card overdraft, etc. It mainly includes the following information: Your basic information: including your name, ID number, home address, work unit, etc. This information tells commercial banks "who you are." Friendly reminder: In order to avoid unnecessary trouble, please do not lend your ID card at will, because the ID number is an important identification information in the credit report. At the same time, please fill in your basic personal information accurately and truthfully when handling banking services, and contact the bank promptly to update the information if it changes. This not only helps you prevent identity fraud and misuse, but also helps commercial banks accurately verify your identity. Your loan information at the bank: when and how much you borrowed from which bank, how much you have repaid, how much you have yet to repay, and your monthly repayment status, etc. Your credit card information: Which banks’ credit cards you have applied for, your credit card’s overdraft limit and your repayment records, etc. Information about the bank settlement account you opened: your name, ID number, account opening bank code, account opening date, etc., excluding deposits, withdrawals, transfer payments and balance information of your settlement account. Records of inquiries on your credit report: The computer automatically records "when, by whom, and for what reason" your credit report was viewed. With the gradual advancement of database construction, in addition to the above information, your personal credit report will also record your personal housing provident fund payment information, social security information, whether you have paid telephone, water, electricity, gas and other public bills on time** *Information on business expenses, as well as court civil judgments, tax arrears and other public information. How to use it Check your credit report Of course. (3) How do I check my credit report? You need to bring your valid ID and go to the local credit management department of the People's Bank of China or the Credit Information Center of the People's Bank of China in Beijing for inquiries. (4) Is there any charge for checking personal credit report? Inquiring about your personal credit report is a service provided by the credit reference center, so in principle, a certain cost will be charged. Credit report: People who have handled loans, credit cards, and guarantee businesses. (6) Who else can see my credit report besides myself? commercial bank. Commercial banks can look at your credit report when reviewing your credit application, but they must obtain your written authorization. If you are already a borrower of a commercial bank or hold its credit card, the commercial bank can also look at it. Read your credit report without your written authorization. Of course, you can also provide it to other institutions for review if you wish. (7) Which institution provides personal credit reports? Credit Reference Center of the People's Bank of China. It is a public institution directly under the People's Bank of China, responsible for the daily operation and management of the personal credit information basic database, and providing personal credit reports and related services. Why Mistakes Are Made on Personal Credit Reports The first step is to believe that no one will intentionally make mistakes on your credit report.

The reasons for the error may come from four aspects: first, you provide incorrect information to the bank when handling loans, credit cards and other businesses; second, others use various illegal means to use your name to handle loans, credit cards and other businesses. ; Third, when handling loans, credit cards and other businesses, the counter staff may enter your information incorrectly due to negligence; Fourth, technical errors may occur due to various reasons when the computer processes data. What should you do if there is an error in your personal credit report? You can report wrong information and request for verification and correction through three channels: first, you can report it yourself or entrust others to the credit management department of the branch of the People's Bank of China where you are located; second, directly report it to the credit reporting department. Report to the center; third, you can entrust a commercial bank agency directly involved in the error information to report the error. If you dispute the final result, you can apply to the credit bureau to add a personal statement to your credit report. If you believe that the wrong information provided by the Credit Reference Center has harmed your interests, and if you still cannot get a satisfactory solution after reporting it to the Credit Reference Center, you can also report it to the Credit Reference Bureau of the People's Bank of China, or file a lawsuit in court and use legal means. Protect your rights and interests. (3) Will errors in your personal credit report affect your lifetime creditworthiness? There may be errors in personal credit reports, which may cause you temporary inconvenience until the errors are corrected; however, once corrected, the erroneous information will no longer be reflected in your credit report, and therefore will not affect your lifetime creditworthiness. . (4) What can you do to improve the quality of your personal credit report? First, when handling loans, credit cards and other businesses, provide correct personal information to the bank and update your information in a timely manner. The second is to always care about your credit record and check your credit report regularly. Third, when you find an error in your credit report, report it promptly and apply for correction. Credit violation No! The Credit Reference Center has taken the following five measures to ensure the security of your privacy: Authorized inquiry. No one can see your credit report without your written authorization. Of course, if you have borrowed money from a bank or used its credit card, the bank will not need your consent to view your credit report: after the bank lends money to you, it needs to know at any time Your latest situation to ensure the safety of your bank funds. Restricted use. The "Interim Measures for the Management of Basic Personal Credit Information Database" promulgated by the People's Bank of China (hereinafter referred to as the "Measures") clearly stipulates: Except for you, commercial banks can only handle loans, credit cards, guarantees, etc., or manage loans. Your credit report can only be viewed when you have made a payment and issued a credit card. Information security. The database where your credit report is stored is very secure. Your information is transmitted from the commercial bank to the basic personal credit information database of the credit reference center through a confidential dedicated line. There is no human intervention in this process and it is automatically processed by the computer. The entire system adopts the most advanced computer anti-virus and anti-hacker attack security system in China. Your information is as safe as your deposits in the bank. Query records. The personal credit information basic database also manages commercial bank credit officers (i.e. database users) who view your credit report. Each user must be registered, and the computer system also automatically tracks and records each user's query on your credit report. situation and appear on your credit report. Violation penalties. The "Measures" clearly stipulate that if a commercial bank violates the regulations by querying an individual's credit report, or uses the query results for other purposes outside the prescribed scope, it will be ordered to make corrections and fined not less than 10,000 yuan but not more than 30,000 yuan; suspected of committing a crime If found, it will be handed over to judicial authorities for handling according to law. Friendly reminder: You are the best protector of your personal privacy. First of all, we would like to remind you that when filling out the credit business application form, you should pay attention to the authorization inquiry terms or other written authorization files in the application form. Secondly, we remind you to check your credit report regularly, and judge whether there are any suspicious situations based on the inquiry records in the credit report. If you find any inquiry without your authorization, please report it to the credit reference center in time. Credit benefits (1) What benefits will a good credit record bring to individuals? The biggest benefit of a good credit record to an individual is to accumulate credit wealth for the individual. Generally speaking, in order to ensure that the loan is recovered, the bank may only grant you a loan after you provide sufficient collateral. If you have a good credit history, you may be able to convince a bank that you will repay your loan on time, and the bank will grant you a loan even if you cannot provide physical collateral. Therefore, a good credit record is like a "credit collateral" to help you obtain a bank loan.

In addition, a good credit record can enable you to obtain preferential financial services. Banks will have certain flexibility and preferential treatment in terms of loan size, term and interest rate. (2) How to have a good personal credit record? If possible, establish your credit history as early as possible. The simple way is to establish a lending relationship with a bank. For example, you can apply for a credit card or a loan from the bank. What needs to be clarified here is: not borrowing money from the bank does not mean that you have good credit. Because there is no historical credit record, the bank loses a convenient way to judge your credit status. If you owe money, pay it off as soon as possible. You need to establish your own repayment (payment) plan, repay loans and credit card overdrafts in a timely manner, and pay various fees on time. Otherwise, late repayments and other situations will be truthfully reflected in your credit report, which will have a negative impact on your credit activity. ?If you have already established a credit file, please be concerned about your credit history. The information on your credit report can be wrong for a number of unavoidable reasons. Once you find an error in your personal credit record, you should contact the agency that provides the credit report as soon as possible to correct the erroneous information in a timely manner to avoid being adversely affected. Basic data Basic database The basic personal credit information database is a personal credit information sharing platform established by the People's Bank of China and organized by commercial banks. Its daily operation and management are undertaken by the Credit Information Center. It is like a "credit information warehouse" that collects, saves, and organizes personal credit information, provides credit report inquiry services for commercial banks and individuals, and provides statistical information services for monetary policy and financial supervision. Friendly reminder: The basic database of personal credit information has been networked nationwide. As long as you have a loan relationship with a bank, you can check your personal credit report anywhere in the country and at any commercial bank credit outlet. Is it necessary to apply to establish a personal credit record? No. As long as you go to the bank to handle credit services such as loans, credit cards, and guarantees, your information will be automatically submitted to the basic personal credit information database through the bank. Friendly reminder: Do not believe the illegal propaganda of other institutions in the society and be careful not to be deceived. The Credit Reporting Administration of the People's Bank of China is an internal functional department of the People's Bank of China. It was established in November 2003 and is responsible for the management of the credit reporting industry. 8. Common misunderstandings (1) The People’s Bank of China’s personal credit information basic database is a “blacklist”. Wrong! There is no "blacklist" in the personal credit information basic database. It just records your original credit information truthfully and generates your credit report without any subjective judgment. The personal credit information basic database is a faithful "notepad" of your credit status. It will not write any good or bad comments. So, you don’t have to worry about being included in a non-existent “blacklist” just by accident. Credit stain A breach of trust may have some impact on your credit activity for a period of time. But at the same time, you have to believe that commercial banks will make rational judgments based on all aspects of the situation. The so-called "credit stain" will never stay with a person for a lifetime. In foreign countries, negative records are generally kept for 7 years, and bankruptcy records are generally kept for 10 years. Our country will also introduce relevant regulations. So, never get discouraged, you can start over! Credit Information Center (1) In December 2004, the personal credit information basic database entered the trial operation stage. (2) On August 18, 2005, the People's Bank of China issued the "Interim Measures for the Management of Basic Personal Credit Information Database" in Order No. 3 of 2005, which was officially implemented on October 1, 2005. (3) In January 2006, the personal credit information basic database was officially launched. Friendly reminder: To improve the quality of your credit report, please update your basic information in a timely manner. The basic personal information in your personal credit report is an important reference for commercial banks to determine your identity and verify "who you are." It is the first step for commercial banks to understand you. In order to record your basic information more accurately, completely and timely, improve the quality of your credit report, and help banks judge your identity and credit status more quickly and accurately, we have specially designed a personal information update form. Please fill in the form as required and submit the information update form by mail or directly to the bank to update your basic information in a timely manner.

You are the writer of the credit report, please cherish your credit record and enjoy a happy life! According to the method, if an employee is determined to have fraudulently withdrawn from provident funds, the management center will make a decision on the matter within 7 working days and notify the employee's unit to request the return of the funds fraudulently withdrawn. Information is disclosed to the public through media such as sharing platforms. Depending on the severity of the case, it will be recorded in the business system of the management center for 1 to 5 years, and will be included in the credit reporting system of the People's Bank of China. In October 2018, Hefei issued interim measures on the handling of fraudulent withdrawals of housing provident funds. Fraudulent withdrawals of housing provident funds will be recorded in the business system of the management center for 1 to 5 years and included in the credit reporting system of the People's Bank of China. In the meantime, applications for employee housing provident fund withdrawals, transfers and loans will be suspended. On October 18, 2018, we learned from the People's Bank of China that in order to prevent and resolve risks on P2P online lending platforms and establish and improve the Internet credit system, the first batch of online lending platform borrowers' malicious evasion of debt information has been included in the central bank's credit reporting system ,*** involving an overdue amount of nearly 200 million yuan. On December 6, 2018, the State Administration of Foreign Exchange announced the sixth batch of 15 foreign exchange violation cases in 2018, including 4 banks, 4 enterprises and 7 individual foreign exchange violation cases. The State Administration of Foreign Exchange disclosed for the first time in the notice that information on penalties for corporate foreign exchange violations has been included in the People's Bank of China's credit reporting system, and "watch list" management has been implemented for individual foreign exchange violations, and relevant violation penalty information has been included in the People's Bank of China's credit reporting system. Features of the new version Compared with the old version, the new version of the central bank's personal credit report report has, on the one hand, great progress in the construction of national information system infrastructure in the past few years. In many aspects, national networking and interconnection have been achieved, and the collection of important personal information has become possible. On the other hand, in recent years, the development of Internet finance and financial technology has made personal information more complete and the credit dimension has a diversified foundation. At the same time, economic development in the new era has put forward new requirements for personal credit reports. How to reflect personal credit situation more effectively, comprehensively and accurately, and how to quickly build a complete and efficient credit society, have become important tasks in the credit reporting industry. The biggest difference between the new version of the personal credit report and the old version can be summarized in three major changes, namely more detailed, more comprehensive and more accurate. The first is more granular. In the new version of the personal credit report, personal information will be more detailed. In addition to the old version of basic personal information, the new version of personal information will be more complete, and spouse information can also be viewed. At the same time, the professional information is more complete, and the amount of information is equivalent to that of a personal resume. More detailed information will make personal credit situation clearer. The second is more comprehensive. The new version of the personal credit report has richer dimensions and is more comprehensive. For example, if the repayment record is extended to 5 years, detailed repayment information and overdue information will be recorded; new repayment amounts, overdue or overdraft amounts will also be marked. In addition to financial information such as loans, the new version of the credit report will include a wider range of information, such as telecommunications business, tap water business payment status, tax arrears, civil rulings, enforcement, administrative penalties, subsistence allowance assistance, professional qualifications and administrative rewards. In this way, the credit report can better reflect the individual's credit situation and enhance the credibility and practical application of the personal credit report. This is also the biggest difference between the new version of the personal credit report and the old version. The last one is more precise. The new version of personal information is more detailed and comprehensive, allowing a more realistic reflection of personal credit status. The credit management of financial institutions will become more targeted, and risk management will be more precise, which can effectively reduce credit risks.