Date
18 November 2017

PBoC may open credit files to small-loan firms, paper says

Ten small-loan companies may be given access to the People’s Bank of China’s credit rating system if the central bank is satisfied with a trial run under way, Shanghai Daily reported Wednesday, citing the chairman of one of the candidate companies. The PBoC will base its decision on reports from the selected small-loan firms over the test period, Song Mei, chairman of Shanghai-based Jishiyu, said. The credit rating system, which details personal credit histories that financial institutions can use to assess the risk from potential borrowers, has been available to all commercial banks since 2005.

– Contact HKEJ at [email protected]

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