Radio Free Asia (October 11) disclosed that on October 10, the Credit Bureau of the People’s
Bank of China (PBOC) published an article entitled, “Building a Credit System that Covers the
Whole Society.” The article claimed that China would establish a “credit file” on every
economic entity. The article pointed out that, as of the end of August 2022, the PBOC’s
personal credit system had access to or information on 4,081 financial institutions and logged
information on 1.15 billion natural persons. At the same time, the enterprise credit system had
access to 3,811 financial institutions and included information on 98 million enterprises. The
PBOC is also set to promote cross-field and cross-platform sharing of personal and corporate
credit information. According to the Chinese official media, the system will score a person or
an entity based using four major areas: personal business activities, social behavior,
administrative affairs and judicial records. Individuals who make sensitive comments on social
media, for example, may have points deducted and may even be blacklisted.
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