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China to Improve Credit System
China is expected to greatly improve its credit system in two to three years to meet the demands of the market economy and electronic businesses.
A credit appraisal system will be set up nationwide this year, said Chen Jing, an official with the People's Bank of China.
The system began on a trial basis in 300 cities last year. Shanghai started a consumption credit evaluation system for individuals with the final goal to realize online consultation among banks.
Chen is confident that an improved credit evaluation system will be set up in two to three years in China, adding that it will promote a healthy development of the market economy and e-business.
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