Source:

02-28-2006 10:58

The People's Bank of China published an announcement on its official web site on Monday, saying that China aims to establish a nationwide credit database. The information gathered on corporate borrowers by the end of June will help lenders to better assess their credit worthiness.

The central bank said the database would complement a national consumer credit database launched earlier this year in an effort to modernize the country's credit system, and it will be shared by all commercial banks and some rural credit cooperatives. It also urged banks to make a special effort to help SMEs build up their credit histories, so that it will be easier for them to access loans in the future.

 

Editor:Wang Ping