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City launches China's first credit database for individuals, companies
Online Edition
China’s first credit database was released in Shanghai today where personal and company credits can be checked.
The Credit of Donghui, a website mainly open to individuals, companies and P2P lenders, includes the personal information on job, accommodation, payment of electricity, water and gas as well as unpaid tax.
The business conditions of companies can also be examined through the system.
Currently, authorities check personal credit reports on the database are vetting applications for low-cost housing and other services.
Business reports are scrutinized for enterprises seeking involvement in ventures such as the Shanghai Free Trade Zone.
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