Shanghai Finance

Financial Center

Developing Credit System


The Credit Reference Center of the People's Bank of China opened in Shanghai in May 2008


Shanghai Credit Information Services Co., Ltd., mainland China’s first personal credit reference agency, was officially established in July 1997 with the authorization of the Shanghai Municipal People’s Government, the approval of the People’s Bank of China, and support from the Shanghai National Economic and Social Informatization Office and the Shanghai branch of the PBoC.

In June 2000, a personal credit reference database was launched and mainland China issued its first personal credit reports.

In March 2002, a credit database system was trialed for businesses. The information held in the database was drawn largely from SAIC, AQSIQ, tax, customs and court records. By the end of 2011, the consumer credit database system had more than 11.56 million people on file, and had performed more than 14.79 million credit checks. The company credit database has information on 1.47 million companies and organizations and collects credit information in 48 broad categories through an automated online system.

There is increasing coordination of socio-economic development processes across the YRD, so Shanghai, Zhejiang and Jiangsu have made the integration of their credit systems a medium term objective.

Progress began in 2004, when the three signed the MOU on Cooperation to Develop a Jiangsu, Zhejiang & Shanghai Credit System. In 2010, the credit regulatory agencies of Shanghai, Jiangsu, Zhejiang and Anhui released the Outline Plan for Cooperation and Development of YRD Consumer Credit Systems (2010-2020). The plan provides a framework for further growth of consumer credit systems in the YRD, joint development of financial credit systems, information sharing, and integration of credit ratings mechanisms.

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Hong Kong students visit Shanghai Financial Service Office