Besides, we should further improve the establishment of the credit reporting system. A complete personal credit system is the foundation for consumer finance institutions to have effective control over credit risk. In recent years, considerable progress has been made in the construction of China's personal credit system, but it is still incomplete. In the future, the rapid development of China's consumer finance requires the gradual establishment of a complete social credit management system.
"Of course, the fundamental condition for promoting the development of consumer finance is the increasing of people's income and the completion of the social security system". Ding Jiahua points out that the development of consumer finance can provide momentum and lever for consumption growth, but the growth of people's income and the completion of the social security system are the core of consumption growth and the primary momentum for boosting consumer finance. In the future, effort should be made to deepen the reform of the income distribution system and promote the establishment the social security system in urban and rural areas, which is stressed in the report of the CPC's 18th National Congress.
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