Promote the high-quality development of the enterprise credit market
In recent years, the People's Bank of China has closely followed the macro policy orientation and micro market demand, leveraged the advantages of the "government+market" dual wheel drive, fully mobilized the enthusiasm of all parties in the market, reasonably balanced the relationship between development, innovation and regulation, and made every effort to promote the high-quality and sustainable development of China's enterprise credit market.
Statistics show that as of the end of June this year, there were 130 enterprise credit reporting agencies registered with various branches of the People's Bank of China, with assets of 8.54 billion yuan and more than 10000 employees. In the first half of 2019 alone, they provided various credit reporting products and services such as enterprise credit reports, enterprise credit scores, enterprise credit portraits, and enterprise identity verification to the public 2.2 billion times.
The collection of data is the source of development for enterprise credit reporting agencies. With comprehensive and real-time updated data, enterprise credit reporting agencies can find the true value of data from the complex relationships of different data. With the increasing transparency of government information disclosure and enterprise information networks in China, the People's Bank of China has guided market-oriented credit reporting agencies to collect data from different channels, including industrial and commercial registration information, tax registration information, electricity meter information, water meter information, customs declaration form information, environmental compliance information, labor employment information, real estate and motor vehicle registration information of business owners and their partners, reward and punishment information of business owners and their partners, and court litigation execution information of small and micro enterprises. These objective data are used to comprehensively judge the true identity, business management scale, and strength level of enterprises.
It is understood that most of the 130 registered enterprise credit bureaus have achieved the comprehensive collection and real-time update of enterprise registration information, judicial judgment information, and financial information of listed companies. Some credit bureaus have also collected the import and export information of more than 8 million enterprises, tax information of more than 4 million enterprises, and business transaction information of more than 3 million enterprises by establishing special lines with government departments and public utilities, establishing data cooperation with large Internet trading platforms, etc.
The ability to mine and analyze data is the value of enterprise credit reporting agencies. In the eyes of corporate credit reporting agencies, any data that can ensure data quality and continuous updates has its application value. The People's Bank of China guides market-oriented enterprise credit reporting agencies to use big data analysis and storage technologies such as graph computing, distributed databases, machine learning, and visualization to establish a logical correspondence between data and enterprise credit. By using data models to accurately depict the credit status of enterprises, enterprises can become "transparent" in credit financing and commercial transactions. Shenzhen Weizhong Taxation Bank Information Service Co., Ltd. establishes a logical correspondence with the stability of enterprise operations through analyzing the trend of changes in enterprise tax data, and State Grid Credit Information Co., Ltd. and other institutions through analyzing the trend of changes in enterprise electricity data, in order to determine the enterprise's debt repayment ability and possible default risks.
The widespread application of credit reporting products is the development goal of enterprise credit reporting agencies. Under the guidance of the People's Bank of China, market-oriented enterprise credit reporting agencies have developed various credit reporting products and services, including credit reports, credit scores, multi-dimensional simulated portraits, customer screening and positioning, information authentication, credit solutions, and post loan monitoring. These products and services are widely used in various fields such as finance, commerce, import and export, government administrative management, as well as in market promotion, risk screening, default monitoring, and other stages. The "tax e-loan", "credit collection" and other products jointly developed by credit bureaus and financial institutions provide banks with Internet based pre loan risk screening and post loan risk monitoring, reduce the cost of manual information collection before bank lending and the cost of single account management after lending, and resolve the credit risk of small and micro enterprises before lending and before the risk is found, which greatly alleviates the problem of asymmetric information between banks and enterprises in the credit granting process of financial institutions and reduces the financing cost of small and micro enterprises.
Enterprise credit reporting agencies also actively participate in industry and local credit system construction projects, helping all enterprises in the industry establish credit files, formulate industry credit evaluation standards, and improve industry credit attention lists, blacklists, fraud lists, etc; Assist local governments in using new technologies such as big data and cloud computing to innovate regulatory methods, improve the level of intelligent and refined supervision, establish and improve credit supervision mechanisms, deeply understand the credit status of enterprises within their jurisdiction, and efficiently introduce target enterprises that are in line with local industrial development.
Information source: China Government website
Editor He Yang of this website/Organizing
