The plan may resolve the PBOC's long-standing concerns about a lack of visibility into the country’s consumer debt market.
June 28, 2021The granting of licences to insurance companies is expected to help diversify the service areas covered by the MyData platform.
June 27, 2021Internet-only banks will expand lending to mid to low credit borrowers to at least 30 percent of total lending by end-2023.
May 30, 2021The FSC has announced additional support for SMEs, low-rated companies, and corporate bond and CP issuers.
May 11, 2021The guidelines require participating firms to ensure consumers have sufficient awareness of their privacy rights when consenting to data transfers.
February 27, 2021Banks will have to report expanded information about the credit history of their customers to credit agencies, paving the way for more competition in the lending market.
February 8, 2021The bank has been reporting credit data to the JCIC incorrectly since December 2010, potentially impacting the credit scores of certain customers.
February 5, 2021Ant Group affiliate Alibaba and Tencent have so far been resistant to sharing their loan data with credit databases such as Baihang.
January 15, 2021"With more types of financial institutions joining the open banking system, it will help promote competition and improve consumer convenience," the FSC said.
December 23, 2020The Joint Credit Information Center is planning to establish a new credit database by October 2021 which will provide lending and repayment data to fintech firms.
November 26, 2020