Baihang Credit Executes Cooperative Agreements with over 700 Chinese Financial Institutions

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China’s only licensed personal credit agency has just seen its first major change in executive personnel, after enjoying rapid growth in the number of its cooperating financial institutions since its establishment in early 2018.

Baihang Credit (百行征信) recently announced the appointment of Zheng Xianbing (郑先炳) as president, with Xu Qijie (许其捷), Liu Pengpeng (刘鹏鹏), Yi Cong (易琮) and Hu Zhengkang (胡正康) serving as vice-presidents.

Zheng replaces outgoing chair and president Zhu Huanqi (朱焕启), who will reach the scheduled retirement age of 60 next year.

57-year old Zheng Xianbing is a more than three decade veteran of China Merchants Bank, having first joined the commercial lender in 1993 and previously occupied the positions of chair of the board office, chair of the supervisory board office, chief manager of the strategic development department, and most recently chief representative of the Taipei representative office.

Baihang Credit has seen rapid expansion since its establishment at the outset of 2018, incorporating the information and data of its first group of 15 cooperating financial institutions in June of that year.

These financial institutions included P2P lenders Yirendai (宜人贷) and PPDai (拍拍贷); licensed consumer finance companies Home Credit (捷信), Bank of China Consumer Finance (中银消金), Mashang Consumer Finance (马上消费金融) and Zhaolian Finance (招联金融); and micro-loan companies Chongqing Baidu Micro-loan (重庆百度小贷) and Chongqing Suning Micro-Loan (重庆苏宁小贷).

As of October 2018 Baihang Credit had executed credit information sharing cooperative agreements with 241 institutions – a figure which had risen to over 600 by March 2019 and more than 700 as of April.

Cooperating institutions are spread across 17 categories including micro-loans, financial leasing, financial guarantees, consumer finance and peer-to-peer lending.

The rapid incorporation of financial data from multiple sources has abetted Baihang Credit’s provision of the personal credit-related products which comprise the core of their operations.

Baihang officially commenced these operations in 1 January, with the online launch of personal credit reports, information verification services and special mention lists, helping financial institutions to resolve the problem of information asymmetries, improve the efficiency of credit services and prevent credit-related risk.

In mid-April Baihang executives revealed plans to launch inquiry service trials for personal credit report products.

as of April 2019 had executed operations cooperation and information sharing agreements with over 700 financial institutions spread across 17 different categories, including financial leasing, financing guarantee, consumer finance and peer-to-peer lending.

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