Questions and answers about enterprise credit investigation in the Regulations on the Administration of Credit Investigation Industry

1 What is the credit investigation industry? Why to formulate the “Credit Investigation Industry Management Regulations”

Credit investigation industry is an industry that provides credit information service in market economy. As enterprises that provide credit information services, business credit reporting company legally collect credit information of enterprises and individuals according to certain rules, process and form credit reports and other credit information products of enterprises and individuals, and provide them to lenders, credit sellers, tenderers, rental houses, insurers and other information users who have legitimate needs in economic activities. To facilitate them to know the credit status of the counterparty.

The promulgation of the Regulations on the Management of Credit Investigation has solved the problem that the credit investigation industry cannot rely on in the development. It is beneficial to strengthen the management of credit investigation market, standardize the behavior of credit investigation institutions, information providers and credit users, and protect the rights and interests of information subjects; It is conducive to giving play to the role of market mechanisms and promoting the construction of a social credit system.

2 What are the main contents?

First, the scope of application of the Regulations on Credit Management
The second is the credit supervision system
Third, credit bureaus
The fourth is the business rules of credit investigation
Fifth, the rights and interests of credit information subjects
Sixth, the basic database of financial credit information
Seventh, supervision and management
Eighth, legal responsibility

3 What scope does it apply to?

The Regulations on the Administration of Credit Investigation shall apply to the credit investigation business and related activities engaged in the collection, sorting, preservation and processing of personal or enterprise credit information and provided to information users within the territory of China.

4 What provisions have been made to protect the rights and interests of individual credit information subjects?

First, strictly regulate the rules of personal credit reporting business
The second is to clearly stipulate that personal information collected by credit bureaus is prohibited and restricted
Third, it clearly stipulates that individuals have the right to inquire, object and complain about their own information
Fourth, strict legal responsibility