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Chinese Central Bank Plans to Upgrade Credit System with Integration of Business and Personal Data

The Credit Reference Center (CRC) of the People’s Bank of China (PBOC) has issued a circular flagging acceleration of system upgrades.

The “People’s Bank of China Credit Reference Center Notice on Properly Performing Online Preparatory Work for the Second-Generation Credit System “中国人民银行征信中心关于做好二代征信系统上线准备工作的通知” states that CRC has already drafted new standards for the credit system upgrade, including a “Digital Certificate Guide” (数字证书), as well as made amendments to existing core documents.

CRC’s upgraded system is expected see the integration of enterprise and personal data systems, as well as expand the types of data included.

CRC was officially launched in 2006, and currently contains credit information on 990 million natural persons and 25.918 million enterprises and other organisations.

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