CCTV News: On April 2, the State Information Office held a press conference to introduce the relevant situation of improving the social credit system.
Ren Yongmei, director of the Credit Reporting Administration of the People's Bank of China, said at the meeting that credit is the cornerstone of the market economy. The People's Bank of China resolutely implements the decisions and deployments of the Party Central Committee and the State Council, continuously improves the policy system for financial services to the real economy, vigorously promotes the construction of a modern credit reporting system, and plays an important role in effectively preventing credit risks and promoting the development of inclusive finance.
Ren Yongmei introduced that my country's credit reporting industry started with credit reporting. After nearly 30 years of development, it has built a public credit reporting system with the world's leading data scale and the widest service coverage. The credit report of the basic database of financial credit information has become an "economic ID card" that fully reflects the credit status of the information subject. A large number of individuals and enterprises who repay on time and perform their promises on time have obtained more preferential and convenient financing support based on their good credit history. In the business environment assessment organized by the World Bank, database credit information indicators rank among the world's top for many years. As of the end of 2024, the database has included credit information from 1.16 billion natural persons, 140 million enterprises and other organizations, and provided 6.7 billion credit report inquiry services throughout 2024.
At the same time, in order to further alleviate the difficulties and high cost of financing caused by small and medium-sized enterprises due to the lack of mortgage guarantees, the People's Bank of China Credit Reporting Center has built a unified registration and publicity system for movable property financing in accordance with the law, providing unified registration and inquiry services for seven categories and multiple movable property and rights guarantees to the society, further improving the efficiency and transparency of guarantee transactions, and improving the availability and convenience of financing for small and medium-sized enterprises. As of the end of 2024, the registration system has handled a total of 44 million registrations of various types and provided 260 million query services.
In addition, the People's Bank of China Credit Reporting Center has continuously expanded its basic credit reporting services and innovatively built a national credit information sharing platform for small and medium-sized enterprises. The platform was officially launched in October 2024. The capital flow information platform helps financial institutions provide first-time loans and credit loans to small and medium-sized enterprises that lack credit records by establishing capital flow credit files for small and medium-sized enterprises. As of the end of 2024, the capital flow information platform has established credit files for 56 million enterprises and individual industrial and commercial households, covering 88 million capital flow accounts.
