Chinese language - Personal credit info database to be built

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Personal credit info database to be built

www.chinanews.cn 2005-03-17 09:14:56

(Source: Xinhuanet)

BEIJING, March 16 - The People's Bank of China (PBOC), China's central
bank, is soliciting public opinions on building a nationwide database for
personal credit information.
A national database is expected to be built at the end of this year. The
database collects personal information including identity, profession and
address, history of financial credit and other relevant data capable of
showing a citizen's credit, according to the PBOC.
The seven-chapter regulation includes items on how banks will report and
search personal credit information, how citizens will apply to the
administration for correcting their information in the database and how
the database will safeguard privacy and security of the information.
The central bank is also trying to set up a blacklist for individuals
with poor credit. A person will be blacklisted by all banks linking to
the database if he has bad record in one of them.

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