(Photo/Chinanews.com)

China is set to release a new version of its personal credit report that reflects credit conditions of citizens in a more detailed manner, as the country further enhances social credit regulations, Economic Daily reported on April 6.

The new personal credit report released by the Credit Reference Center under the People’s Bank of China is currently out on a trial basis. Once officially launched, it will present a more detailed, comprehensive and precise report on personal credit.

Aside from the basic information already required by the old version, the new version includes individual financial activities such as repayment, overdue taxes, and bill payment for daily life services.

Civil rulings, administrative punishment, living allowance, professional qualifications and regulatory incentives will also be accessible in the new version.

Some industry insiders said that the new report will also include the information of spouses, and married couples will be marked as co-borrowers for loans.

Couples who divorce to take advantage of favorable policies made for first-time home buyers - including lowered down payments and interest rates, will no longer be eligible for such policies.

Any negative record of discredited behavior could affect approval from financial institutions and banks, leading to restrictions on a citizen's daily activities.

“The multi-dimensional report will better raise individual’s awareness of personal credit and promote the building of a credit society,” said He Nanye, a research fellow with Suning Institute of Finance.