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PBOC’s Reports Become Accessible

Twenty companies applied for access to PBOC personal credit information database, as it’s a requisite for operations with personal financial information reports Caixin.

Formed in the 1990s, the credit information system has information from 840M people (although only 340M contain more than IDs) coming from financial institutions. The PBOC is said to be looking forward to incorporate some more info coming from other sources.

Shanghai Credit Information Services Co., partially owned by PBOC, already uses this data. It also uses data coming from telcos and utility bills history of payments. Another firm applying for the license is Allwin Credit Co. which has information coming from 220 P2P firms. Other organizations seeking for approval are Beijing Guozhengtong Technology Co, which provides credit verification for the big banks; Sina, a dating web site; Renrendai.com, a P2P website; Alibaba and JD.com

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