It should be noted that a formal and effective credit report on mortgage and business must be printed by the Credit Information Center of the People's Bank of China.
The development history of credit report;
1, a brief history of domestic development
The development of China's credit information industry has a history of more than 80 years since 1932, when the first credit information agency, China Credit Information Office, was born. But its real development began with reform and opening up. Since the reform and opening up, with the development and expansion of domestic credit transactions, the deepening of financial system reform, the increase of foreign economic exchanges and the deepening of social credit system construction, China's credit information industry has developed rapidly. [5]
Since the reform and opening up, China has gone through the exploration stage, the initial stage, the development stage and the standardization stage.
2. The history of the reform and opening-up of the credit information industry
Exploration stage: In the late 1980s, in order to adapt to the issuance and management of corporate bonds, the People's Bank of China approved the establishment of the first credit rating company-Shanghai Far East Credit Rating Co., Ltd. At the same time, in order to meet the demand for corporate credit information in foreign-related business dealings, the Computing Center of MOFTEC cooperated with Dunbar Company, an international corporate credit reporting agency, to provide credit reports for Chinese and foreign enterprises. 1993, Xinhua Xin International Information Consulting Co., Ltd., which focuses on corporate credit reporting, began to provide services officially. Since then, a number of professional credit reporting intermediaries have appeared one after another, and the embryonic form of the credit reporting industry has initially appeared. [5]
At the beginning: 1996, the People's Bank of China implemented the enterprise loan certificate system throughout the country. From 65438 to 0997, Shanghai launched corporate credit rating. With the approval of the People's Bank of China, Shanghai conducted a pilot project of personal credit investigation, and Shanghai Credit Investigation Co., Ltd. was established 1999, and began to engage in personal credit investigation and corporate credit investigation services. At the end of 1999, the bank credit registration and consultation system was put into operation. In 2002, the bank credit registration and consultation system was built into a three-level database of prefecture, province and head office, realizing nationwide online inquiry. [5]
Development stage: In 2003, the State Council entrusted the responsibility of "managing the credit information industry and promoting the construction of social credit system" to the People's Bank of China, and approved the establishment of the Credit Information Administration. In the same year, Shanghai, Beijing, Guangdong and other places took the lead in developing regional social credit information industry. A number of local credit reporting agencies have been established and developed rapidly. Some credit rating agencies have begun to explore new credit service fields such as credit rating in the inter-bank bond market, and internationally renowned credit rating agencies have successively entered the China market. In 2004, the People's Bank of China established a national centralized and unified basic database of personal credit information, and in 2005, the bank credit registration and consultation system was upgraded to a national centralized and unified basic database of enterprise credit information. In 2008, the State Council adjusted the credit management responsibility of the People's Bank of China to "manage the credit industry" and took the lead in setting up an inter-ministerial joint meeting on social credit system. 20 1 1 Add the National Development and Reform Commission as the lead unit. On March 20 13, the Regulations on the Administration of Credit Information Industry was formally implemented, which made it clear that the People's Bank of China was the supervision and management department of credit information industry, and the credit information industry entered the legal track. [5]
Normalization stage: On July 6, 20 19, the Guiding Opinions of the General Office of the State Council on Accelerating the Construction of Social Credit System and Building a New Credit Supervision Mechanism pointed out: Accelerate the Construction of Social Credit System and build a new credit supervision mechanism, and make an explanation; [6] On September 27th, 20021year, the People's Bank of China issued the Measures for the Administration of Credit Information Business, which was deliberated and passed at the 9th executive meeting of the People's Bank of China on September 7th, 20021year, requiring institutions that have not obtained the business license of personal credit information business or filed with enterprise credit information agencies before the implementation of these Measures, [7].
3. A brief history of international development
Due to the different legal traditions and credit reporting modes in different countries, there are great differences in the design of legal system. There are two forms of legislation on credit information industry abroad: special legislation and decentralized legislation. North America and emerging market countries mostly adopt special legislation, while European Union countries and some Asian and South American countries mostly adopt decentralized legislation. Generally, it pays attention to the standardization of personal credit information business, and has less restrictions on corporate credit information business. Most of them have made clear the information collection scope of credit reporting agencies, attached importance to the protection of the rights and interests of information subjects, and endowed them with important rights in credit reporting activities. [5]