Whether credit transaction data collected by the central bank’s credit information center can be used by institutions outside the “ecosystem” has been a subject of great debate. In the credit industry, can credit institutions that have not submitted data to the credit information center for various reasons inquire about business credit reports (obviously meeting the “reasonable purpose” requirement)? Do businesses or institutions outside the credit industry have the right to access credit report data (there is the issue of defining a “reasonable purpose”)? Since its creation, the credit information Center has been adhering to the “reciprocity principle” proposed by Europeans, that is, the principle of “what to submit and what to inquire”. Now some European countries, such as the United Kingdom, have begun to rethink whether they should abandon this principle. Chinese law clearly stipulates that the central bank credit information center is the business of credit institutions, so the “principle of reciprocity” to eliminate corporate data sharing doubts, to prevent the “free rider” behavior of the original intention of us is actually no practical significance, so the principle of reciprocity should not become an obstacle to data sharing.
There is also the difficult question of how to develop credit products and services using data managed by the central bank’s credit investigation center. The credit collection Center is authorized by the administration to collect and report credit data, but does not participate in the market activities of the development of value-added credit products and services. Therefore, the credit information center can not do, other institutions can not do, in addition to the basic products (reports and bureaus) in the credit information market, there is almost no other value-added products and services, there is a large vacancy. How to fill this gap is one of the most important tasks in establishing the credit information market.
Post time: Nov-14-2023