When will the Regulations on the Administration of Credit Reporting be promulgated and implemented

The People's Bank of China (PBOC) issued the Measures for the Administration of Credit Reporting Business, which will come into force on January 1, 2022. "Credit reporting operations" refers to activities that collect, organize, store, and process the credit information of enterprises and individuals, and provide it to information users. "Credit information" as used in these Measures refers to basic information, lending information, and other relevant information collected in accordance with law to provide services for financial and other activities, and used to identify and judge the credit status of enterprises and individuals, as well as analysis and evaluation information formed on the basis of the aforementioned information.

1. How to check bank credit:

1. Inquire through the Credit Information Inquiry Center of the People's Bank of China;

2. Go to the bank counter for inquiry;

3. Use the professional version of online banking to make inquiries;

4. Make inquiries through mobile banking.

2. What will be the impact of credit reporting:

1. If there is a credit problem, you can not handle other credit business in the future;

2. If it is a credit problem that occurs when the loan is not repaid, it may be sued by the bank to the court, and in serious cases, it may be imprisoned;

3. Before the bank takes out a loan or approves a credit card, it will check the applicant's personal credit report, which is an indispensable step, and each inquiry record will be stored in the credit report and kept for two years. Including who checked it, when it was checked, and because of what.

Legal basisArticle 4 of the Measures for the Administration of Credit Reporting Operations: Those engaged in personal credit reporting operations shall obtain the permission of the People's Bank of China personal credit reporting agency in accordance with law; Those engaged in enterprise credit reporting operations shall handle the filing of enterprise credit reporting establishments in accordance with law; Those engaged in credit rating operations shall handle the filing of credit rating bodies in accordance with law.

Legal Analysis: The "Regulations on the Administration of the Credit Reporting Industry" were formulated to regulate credit reporting activities, protect the lawful rights and interests of parties, guide and promote the healthy development of the credit reporting industry, and promote the establishment of a social credit system, and were promulgated by the People's Republic of China on January 21, 2013, and came into force on March 15, 2013. First, there are clear provisions on credit information and credit reporting business.

Make credit reporting supervision have laws to follow. All types of information that provide services for financial and economic activities and are used to judge the credit status of individuals and enterprises are defined as credit information, and their information service activities are credit reporting activities. In current practice, the use of this information to profile and evaluate individuals or enterprises is defined as credit reporting business, which falls within the scope of the Measures.

Second, from the perspective of protecting the lawful rights and interests of individuals and enterprises, provisions are made on the collection, sorting, storage, and processing of credit information. Credit reporting establishments are required to follow the principle of "minimum and necessary" in collecting information, and must not collect information in an illegal manner; The purpose of the collection, the information**, and the scope of the information shall be notified, and the consent of the enterprise shall be obtained for the collection of non-public enterprise credit information; The principle of objectivity shall be followed in the collation, preservation, and processing of credit information, and the original data must not be tampered with. The third is to regulate the use of credit information and ensure that it is used for lawful purposes.

Information users are required to use Personal Credit Information for lawful and legitimate purposes, and must not be abused; When credit reporting establishments provide different types of credit reporting services, such as credit information inquiries, credit assessments, credit ratings, and anti-fraud services, they shall follow the corresponding business rules. Fourth, provisions have been made on the security of credit information and cross-border flows. From areas such as internal control systems, software and hardware equipment, and personnel management, credit reporting establishments are required to do a good job of information security work, and establish emergency response and reporting systems.

Where enterprise credit information inquiry services are provided overseas, it shall be ensured that the credit information is used for reasonable purposes such as cross-border ** and financing, and is to be provided in the form of a single inquiry.

Legal basis: Article 1030 of the Civil Code of the People's Republic of China: The provisions of this Part on the protection of personal information and the relevant provisions of other laws and administrative regulations apply to the relationship between civil entities and credit reporting establishments and other credit information handlers.

On January 21, 2013, Wen Jiabao, then Prime Minister of the People's Republic of China, signed Order No. 631 of the People's Republic of China, which was adopted at the 228th executive meeting on December 26, 2012 and came into force on March 15, 2013. It was promulgated by the People's Republic of China on January 21, 2013, and took effect on March 15, 2013, so as to regulate credit reporting activities, protect the lawful rights and interests of parties, guide and promote the healthy development of the credit reporting industry, and advance the establishment of a social credit system. It solves the problem of inability to rely on in the development of the credit reporting industry.

It is conducive to strengthening the management of the credit reporting market, regulating the conduct of credit reporting establishments, information providers, and information users, and protecting the rights and interests of information subjects; It is conducive to giving play to the role of market mechanisms and advancing the establishment of a social credit system.

Adopted by the 228th executive meeting on December 26, 2012, and promulgated by Order No. 631 of the People's Republic of China on January 21, 2013. The "Regulations" are divided into 8 chapters and 47 articles of General Provisions, Credit Reporting Agencies, Credit Reporting Business Rules, Objections and Complaints, Basic Financial Credit Information Database, Supervision and Management, Legal Liability, and Supplementary Provisions, and shall come into force on March 15, 2013.

There are three main business models of credit bureaus:

1) Capital market credit rating institutions, whose assessment objects are **, bonds and large-scale infrastructure projects;

2) Commercial market appraisal agencies, also known as enterprise credit service companies, whose assessment objects are all kinds of large and medium-sized enterprises;

3) Personal consumer market assessment institutions, whose credit reporting targets are individual consumers.

Legal basis"Regulations on the Administration of the Credit Reporting Industry".

Article 47: These Regulations take effect on March 15, 2013.

8 years. It was promulgated on January 21, 2013 and came into force on March 15, 2013. January 11, People's Bank of China.

A notice was issued on the "Measures for the Administration of Credit Reporting Business (Draft for Solicitation of Comments)" to publicly solicit opinions from interested matchmakers, and the deadline for feedback was February 10, 2021.

1."Regulations on the Administration of the Credit Reporting Industry".

It is to regulate credit reporting activities, protect the lawful rights and interests of parties, guide and promote the healthy development of the credit reporting industry, and advance the social credit system.

The construction was formulated by the People's Republic of China on January 21, 2013 and came into force on March 15, 2013.

2.According to the new understanding of the viewpoint real estate, since the promulgation and implementation of the "Regulations on the Administration of the Credit Reporting Industry", China's credit reporting industry has entered the era of rapid development of digital credit reporting, and new forms of credit reporting have been emerging, but due to the lack of clear credit reporting business rules, problems such as unclear credit reporting boundaries and inadequate measures to protect the rights and interests of information subjects have continued to appear.

3.In order to increase the transparency of credit reporting business activities, protect the lawful rights and interests of information subjects, and promote the lawful and compliant use of credit information among information providers, credit reporting bodies, and information users, the People's Bank of China drafted the "Measures for the Administration of Credit Reporting Operations (Draft for Solicitation of Comments)" (hereinafter referred to as the "Measures") on the basis of the "Regulations on the Administration of the Credit Reporting Industry" and in consideration of the actual development of credit reporting operations

4.The Measures point out that the retention period of negative personal information collected by credit reporting agencies is 5 years from the date of termination of the non-selling good behavior or incident. Where negative credit information expires, the credit reporting establishments shall delete it, and where it is sample data, it shall be de-identified and moved to a non-production database for storage, to ensure that personal credit information is not directly or indirectly identified.

5.In addition, the term "credit information" as used in the Measures refers to financial and economic activities.

Provide services and provide various types of information used to determine the credit status of individuals and businesses. This includes, but is not limited to: personal and business identity, address, transportation, communications, debts, property, payment, consumption, production and operation.

Information on the fulfillment of legal obligations, as well as information on the analysis and evaluation of the credit status of individuals and enterprises based on the aforementioned information.

6.According to the Measures, credit reporting agencies shall provide free credit report inquiry services twice a year for information subjects of individual sweet potato people through various methods such as the Internet, business premises, and entrusting other institutions. Credit reporting establishments must not collect fees from information subjects on the grounds that negative information is deleted or that negative information is not collected.

I. On March 15, 2013, the "Regulations on the Administration of the Credit Reporting Industry" came into effect, and the promulgation of the "Regulations on the Administration of the Credit Reporting Industry" marked that the development of China's credit reporting industry had entered the track of having laws to follow. II. In order to prevent financial risks and promote the development of the financial industry and provide relevant information services, the state has established a basic database of financial credit information. The bank is constructed, operated and maintained by the Credit Information Center of the People's Bank of China, which is not for profit; It shall be supervised and managed by the Credit Investigation Bureau of the People's Bank of China, and its operation shall comply with the relevant provisions of the credit investigation business rules in the "Regulations".

By the end of 2012, the database had included information on more than 18 million enterprises and more than 800 million natural persons. Institutions engaged in credit business have the obligation to provide credit information of individuals and enterprises to the Basic Database of Financial Credit Information Divine Core, and need to obtain the written consent of the information subject when providing it, and shall notify the information subject in advance of providing negative personal information. The Basic Financial Credit Information Database provides inquiry services to information subjects and financial institutions and other users who have obtained the written consent of information subjects.

State organs may follow the provisions of relevant laws and administrative regulations to make inquiries into information in the Basic Database of Financial Credit Credit.

Article 46 of the Regulations on the Administration of the Credit Reporting Industry: Institutions that have already operated personal credit reporting operations before these Regulations take effect shall apply for a personal credit reporting business license in accordance with the provisions of these Regulations within 6 months of the implementation of these Regulations. Institutions that have already engaged in enterprise credit reporting operations before these Regulations take effect shall handle filing in accordance with the provisions of these Regulations within 3 months of the implementation of these Regulations. Article 47 of the "Regulations on the Administration of the Credit Reporting Industry" These Regulations take effect on March 15, 2013.