Du Jinfu on Eleven-Five construction of Social Credit system in China

Du Jinfu January 16, 2011 "Eleven-Five" period, under the correct leadership of the party Central Committee and the State Council, the People's Bank of China to give play to the Social credit system to build inter-ministerial joint Meeting system of the overall coordination role, with all departments and regions to work together to steadily promote the construction of our Social credit system, our Social Credit environment First, the central Committee of the State Council attaches great importance to social credit system construction of Social credit system is an important institutional arrangement in the market economy system. The construction of Social Credit system is the objective need to perfect our socialist market economy system, maintain the sustained and steady growth of the national economy, prevent financial risks and improve the financial ecological environment. In the current market economy activities, such phenomena as escaping debts, arrears of loans, tax evasion, commercial fraud and illegal fund-raising have occurred, which have adversely affected the social economic order and the financial ecological environment.　　To quicken the construction of Social Credit system is of great practical significance to prevent and punish the breach of faith, to promote the construction of financial ecological environment, to safeguard the normal social and economic order, to protect the legitimate rights and interests of the people, and to promote government departments to fulfill their duties. The party Central Committee and the State Council attach great importance to the construction of Social credit system, and put forward the construction of Social Credit system as a basic system of socialist market economy system. China's "Eleven-Five" plan proposed "to improve credit, tax, contract performance, product quality credit record as the focus, accelerate the construction of Social credit system." 2007, the State Council "on the construction of Social Credit system of several views" (Institutes hair (2007)17) further clear "on the basis of legal system, credit system as the core, to improve credit, tax, contract performance, product quality credit records as the focus", " The establishment of a nationwide credit institution and the Social Credit agencies, the service of the characteristics of the system, and eventually form a complete system, clear division of labor, efficient operation, strong supervision of the basic framework and operating mechanism of social trust system. 17 session Plenary also focus on "speeding up the construction of rural credit system" put forward the request. 17 session of the V plenary adopted the "Twelve-Five" plan proposed further, to "accelerate the construction of Social credit system."　　At present, the Social Credit system construction planning has been clearly listed as "Twelve-Five" during the State Council approval of the focus of special planning. In order to further coordinate and accelerate the construction of Social Credit system, in 2007, the State Council held the first meeting of the Inter-Ministerial Joint conference of Social Credit System construction, and implemented the 10 tasks that the Social Credit system construction of the department needed to be pushed forward. In 2008, the State Council further clarified the responsibility of the People's Bank to undertake "management credit industry, promote the establishment of a social trust system", and lead the establishment of the Social Credit system to build inter-ministerial Joint Meeting system, the joint office is located in the People's Bank.　　With the help of People's Bank and various departments and regions, the construction of our Social Credit system has entered a relatively rapid development period. Second, the construction of Social Credit system has been steadily promoted under the overall co-ordination of the Joint Meeting, all departments and localities to give full play to the initiative, using the presentHas the experience and the resources, the unification divide unifies, the cohesive link, forms the joint effort, promotes the Social credit system construction each work. The People's Bank of China, in conjunction with relevant departments, plays its own advantages, promotes the improvement of credit regulations, systems and standards, accelerates the construction of enterprise and personal credit system, promotes the construction of small and medium-sized enterprises and villages, strengthens the cultivation and management of credit market, maintains the legitimate rights and interests of the main body of　　In the construction of Social Credit system has done a lot of positive and beneficial exploration. (i) The establishment of sound credit regulations, system and standard at present, the key point of the construction of Social Credit system is to establish a set of effective laws and regulations, promote the construction of credit information system, and realize the record, registration, display and sharing of information according to law, so as to provide services for various departments and localities in administrative law enforcement and credit construction (unit) and personal better trustworthy. The People's bank enlarges the system construction work intensity. One is to actively cooperate with relevant departments to promote the research and development of the Credit Management Ordinance, so that the letter of credit is regulated by law; The bill has already consulted the community. The second is to publish the "personal credit information base database management interim measures" to ensure the safety and legal use of personal credit information, to prevent and reduce the credit risk of commercial banks. Third, the implementation of the "Property law" to the People's Bank Credit Center to bear the responsibility for the registration of accounts receivable, the establishment of the issuance of "Accounts receivable pledge registration measures." The publication of the Bulletin on issues related to the issuance of bonds in the inter-bank bond market a series of announcements and normative documents on strengthening the management of credit rating operations in the inter-bank bond market, credit rating guidance, credit market and Inter-Bank bond market credit rating regulations,　　Standardize the inter-bank bond market and credit market credit rating activities. In addition, the People's Bank actively promote the standardization of credit.　　Up to now, 7 financial industry standards have been issued and 1 standards have been included in national standard-setting plans. (ii) The establishment and improvement of national unified enterprise and individual credit system to establish a national unified enterprise and personal information base database, that is, enterprise and individual system, is an important measure to improve our financial environment and improve our financial infrastructure. People's bank earnestly implement the leadership of the State Council on the construction of Social Credit system "can start from credit credit", "to speed up the national unified Enterprise and personal credit information base of the construction of" the spirit of instruction, with the strong support of various departments, to focus on the organization of commercial banks to start building a unified national enterprise and the personal credit system. "　　The system was formally completed in 2006, and the implementation of the national network operation. Enterprise and personal Credit system is government-led, national networking, unified management, all data centrally stored in the central database; The database, which is mainly credit information, has been linked to all commercial banks, policy banks, credit unions and other financial institutions, and is also connected to the population database of the Ministry of Public Security, To achieve the authenticity of personal identity information online verification. As of 2010At the end, the system has established a credit file for nearly 17 million enterprises and more than 777 million natural persons. (iii) Promoting SME credit system construction of SME financing difficulty is a worldwide problem, information asymmetry is the important reason. In order to further support the development of the small and medium-sized enterprises with market, efficiency and credit, to exert the important role of credit information service in alleviating the financing difficulty of SMEs, to explore the long-term mechanism of the construction of the SME credit system, according to the work of the State Council, the People's Bank in conjunction with relevant departments, The system of rating release and the mechanism of credit punishment are studied to establish the management measures of the SMEs. The first is to actively solicit SME information, establish SME credit information archives, organize and carry out credit evaluation of small and medium-sized enterprises; the second is to guide financial institutions to increase credit support for SMEs by means of credit cultivation. Third, the implementation of the "Property law" requires the construction of Accounts Receivable pledge registration publicity system, According to the Accounts receivable pledge, the factoring and the transfer business carries on the publicity, creates the good rule environment for the movable capital financing business, promotes the SME financing.　　The promotion and training of SME credit and Related financial knowledge. On the basis of further experiments, the credit system construction of small and medium-sized enterprises (SMEs), which did not have credit relationship with banks, began to be popularized nationwide in 2007. The combination of local practice and active exploration, Jiangsu Changzhou, Nantong, Sichuan Suining and many other places to create a number of effective working mechanisms and models, achieved better results.　　In order to further encourage and guide the construction of SME credit system, in 2010, the People's Bank formulated the "Small and medium-sized Enterprise Credit System test area Construction guidance" to guide commercial banks to strengthen the use of SME file information, in full use of credit information to do risk management, and further support SME financing. (iv) Promoting rural credit system construction of rural finance has been a weak link in China's financial system. Strengthening the construction of rural credit system and improving the rural credit environment and financing environment not only relate to the steady operation of rural finance, but also relate to the rural infrastructure and the development of modern agriculture, and the relationship between rural economic prosperity and farmers ' income. In recent years, the People's Bank has actively promoted the local government and relevant departments, studied and formulated policies and measures to promote the construction of rural credit system, and led the establishment of the Organization and coordination institutions to promote the construction of rural credit system; Organization of credit and Related financial knowledge publicity, education and popularization work for farmers　　To promote the establishment of household electronic credit files by financial institutions in rural areas, and to establish household credit evaluation system with financial institutions and credit intermediaries, and to promote the construction of credit households, credit villages and credit villages, and gradually expand the operating range of enterprise and personal credit system to rural areas nationwide. 2009, the People's Bank issued "on the construction of rural credit system guidance", further to the rural credit system construction work to carry out the department and guide. Various regions and departments of innovative working methods, emerging many like Zhejiang Lishui, Guangxi Tiandong, Anhui Tongcheng, Guangdong YunFloating, Qinghai and other characteristics, effective, suitable for the characteristics of local rural areas of rural credit system construction model. (v) Nurturing and standardizing the credit market in recent years, People's Bank has actively promoted the development of the market by focusing on its rating. First, in order to cultivate credit market credit rating business, the organization established a key link line system of credit rating. Second, to promote credit rating work, establish and perfect credit guarantee institution credit rating system. Third, in order to standardize and promote the credit rating business of Inter-Bank bond market, 5 institutions engaged in the credit rating of Inter-Bank bond market are required to sign the Self-Regulatory convention and start to use the default rate system to test the rating results. Four is to promote our country commercial acceptance Bill business Development, the research has formulated "the commercial acceptance draft credit rating plan".　　At present, commercial acceptance credit rating work has been in Shanghai, Zhejiang, Sichuan and other fields to carry out the pilot. The People's Bank strengthens the supervision and management of credit market in order to standardize the business activities and safeguard the rights and interests of the information. The first is to the commercial Bank data submission, information inquiry and the use of compliance and other aspects of the comprehensive inspection; Secondly, the special inspection on the handling of the objection of individual credit is established, and the reporting system of the complaints, complaint and lawsuit of the People's Bank branch, the Commercial bank and the credit institution is preliminarily set up.　　Third, the rating agencies system implementation of special inspection, standardize the rating market. (vi) Vigorously carry out credit information and education activities to carry out the public-oriented credit and Related financial knowledge education is the basic work to improve the people's trust awareness and improve the social credit environment, but also the important link of the construction of Social Credit system. In recent years, the People's bank has not regularly carried out media publicity, organizing public Finance knowledge tour, to carry out the publicity week, credit record care day and other activities, the Organization prepared the "financial knowledge of the national reader", "the People ask questions", "Who Moved my credit" and other popular reading, and to the university and social obligations; through a variety of forms , through various channels, strengthen the public credit and Related financial knowledge of the publicity and education.　　At the same time, according to college students, the characteristics of specific groups such as the employees of financial institutions, in cooperation with the Education Department and the Labor and Security Department, study and promote the incorporation of credit information and education into the formal system of national educational and reemployment training system, enhance the pertinence of the propaganda of credit knowledge, and preliminarily establish a long-term mechanism for the propaganda and education of Third, the construction of Social Credit system has begun to work in recent years, all localities and departments generally attach importance to and actively promote the construction of Social credit system, according to "the construction of Social Credit system of several views" to determine the focus and division of work, improve regulations, systems and standards, strengthen information sharing and information disclosure, strengthen government coordination, We should carry out credit propaganda and education and promote the establishment of the credit construction linkage mechanism of "trustworthy benefit and dishonest punishment". The people's Bank should give full play to the integrated and coordinating role of the Joint Meeting system and solve the major problems in the construction of Social credit system with relevant local and department. At present, credit information in the economic hairThe value and function of the exhibition and social construction are gradually appearing, and the construction of Social Credit system has begun to bear fruit. (a) The centralized and unified enterprise and individual credit system, which plays a significant role in the construction of Social Credit system by the People's Bank of China, has become an important infrastructure in the Social Credit system of China and has played an active role in our economic and social life. The operation of Enterprise and personal credit system has promoted the change of business idea, management mode and business process of commercial Bank, which plays a significant role in preventing credit risk, reducing loan losses, improving credit market efficiency, promoting the solution of SME financing difficulty and promoting economic and financial healthy development. At present, the enterprise and individual credit system has become a necessary link in the pre-credit review of commercial banks, and it also plays an important role in the management of commercial bank loans. As of the end of 2010, Enterprise credit system has reached 152 million cumulative inquiries, personal credit System Total query volume reached 812 million times.　　According to the People's Bank of China Credit Center survey, only in the third quarter of 2010, commercial banks to use credit system, the refusal of high-risk clients to apply for 66.19 billion yuan, high risk loans 48.07 billion yuan, clearing and receiving non-performing loans of 4.73 billion yuan. Credit reports provided by enterprises and individuals are gradually becoming the "economic IDs" that take credit information as the core and reflect the debts of enterprises and individuals, abide by the contract and obey the law. The People's Bank and the related department cooperate, gradually will the enterprise and the individual in the product quality, the environmental protection, the social security, the foreign exchange and so on administrative penalty and so on the information into the credit system.　　Commercial banks strictly enforce the policy of "green credit", and the enterprises and individuals who have been punished in the above fields have strict control over the credit distribution, improve the administration and law enforcement of the relevant departments, and enhance the consciousness of the enterprises and individuals to obey the laws in these fields. (b) The industry credit construction has steadily promoted all relevant departments to give full play to the industry management advantages, industry credit construction steadily advancing. First, the regulations of various industries are further perfected, strengthen the administration and law enforcement, increase the illegal and dishonest costs; the second is to collect information system construction of industry credit to further accelerate, such as the general administration of Industry and Commerce, General Administration of customs, AQSIQ and other departments, relying on "jinxin", "Gold clearance", "gold" and other construction projects, Strengthen the construction of credit information system in the Department, promote the integrity of tax payment, product quality integrity and contract performance integrity; third, AQSIQ, General administration of Customs and other departments to accelerate the implementation of credit classification management work, supervision efficiency further improvement; Four is the credit information sharing work between departments continue to deepen, Information comparison and cross audit intensified, and improved the ability of joint supervision. At present, the joint Conference is studying and drafting "on further speeding up the industry credit construction" proposed, and strive to use 3-5 years time, to promote the various industry departments in the E-government project construction, through the establishment and improvement of the department's Law enforcement Information system, improve the industry credit information resources, collection industry credit informationRecord and gradually realize the exchange and application of credit information between department and industry, and carry out the social service of credit information according to law. (c) The working mechanism of local credit system construction has gradually perfected the practice of local Social Credit construction, innovated working mechanism, and carried out the beneficial exploration of each characteristic. First, the organization leads the mechanism to further sound, has clarified the lead department, has carried out the work responsibility. At present, there are 17 provinces (districts, cities) in the country clearly led by the People's Bank to establish the local Social Credit system construction Joint Meeting system or leading group, many cities have also set up a corresponding joint meeting or leading group. Second, to explore the establishment of relevant rules and regulations, issued a standardized credit information disclosure, collection and use of regulations. Third, some provinces (district, city) established by the local People's bank, industry and commerce, public security and other multisectoral joint participation of the unified information sharing platform, collecting all departments of government information, explore information sharing mechanism. Four is to explore and carry out cross-regional cooperation and construct regional Social Credit demonstration zone.　　2008, the People's Bank and Shanghai, Jiangsu, Zhejiang Three signed the "Build Up" credit Yangtze River Delta "Cooperation Memorandum" to jointly promote the "Yangtze River Delta" credit system construction. (iv) Small and medium-sized enterprises and rural credit system construction has made great progress with the development of small and medium-sized enterprises and rural credit system, SMEs credit file information and household credit files are constantly enriched and perfected, in order to solve the small and medium-sized enterprises financing difficulties and farmers to play a positive role in loans. Up to the end of November 2010, the National cumulative supplement to improve the information of 2.134 million households, 257,000 households have supplemented the information of small and medium-sized enterprises to obtain bank credit intention, of which 148,000 small and medium-sized enterprises to obtain bank loans, loan balance of 2.7501 trillion yuan, accumulated total loans of 5.0519 trillion yuan. As of the third quarter of 2010, 2,455 counties (cities and districts) have carried out the construction work of household credit files, and 2,157 counties (districts) have set up farmers ' credit evaluation system. The financial institutions in rural areas of China have established credit files for 127 million farmers, and have carried out credit evaluation for 80.37 million farmers.　　The farmers who have established credit files have reached 72.54 million households with credit support, the amount of loans is over 2.95 trillion yuan and the loan balance is 1.24 trillion yuan. Accounts receivable Pledge Registration publicity system running for more than 3 years, by the community, especially financial institutions widely welcomed the volume of registration and query volume continued to increase in the improvement of SME financing results. As of the end of 2010, China's Accounts receivable Pledge registration volume has exceeded 280,000, the cumulative query nearly 360,000, including small and medium-sized enterprises cumulative number of registered pens reached 164900.　　The registration system of Accounts receivable pledge provides support for the protection of the interests of the pledgee, effectively relieves the limited real estate resources of small and medium-sized enterprises, and becomes a new type of guarantee for SMEs. (e) The credit market has been developing more rapidly at present, our country engages in the registration of credits, credit investigation and credit rating of the letter agencies have nearly 200, basically areOperating according to market principles, the market scale is expanding. A group of rating agencies have been engaged in corporate credit rating and corporate debt, financial debt, structured financing debt, such as long-term short-term bond credit rating capacity, and has a certain credibility in the country. Only 2010 years ago in the three quarter, the country completed a total of 24500 credit market participants, including the completion of 22624 loan companies, the completion of the guarantee company credit rating 1332, completed a debt rating of 723, including corporate bond rating 187, financial bond rating 352. In a short span of a few years, the People's Bank of China Credit Center has developed into a world-wide coverage of institutions and the largest number of registered institutions.　　The development of credit market in our country has played an important role in promoting the financing of enterprises and individuals, and improving the management level of commercial banks. (vi) Social Credit awareness has improved significantly in recent years, Social Credit awareness has gradually become popular, the significance of Social Credit construction has been widely recognized by all sectors of society. Credit environment, credit rating and credit record have become the main basis for measuring the credit status of a region, enterprise or individual. All over the world, the government has raised the Social credit system to the strategic height of the development of modern market economy; many enterprises also translate credit into the core values of corporate culture construction, and more and more individuals actively inquire their own credit reports and care about their credit records. The number of individuals proactively inquiring about their credit reports rose rapidly from 97 in 2006 to 1.275 million in 2010.　　While the Social credit consciousness has been gradually raised, the behavior of enterprises and individuals has changed, and some enterprises and individuals have voluntarily returned the owed taxes, arrears of wages, arrears and so on, and consciously obey the law. The construction of Social Credit system is a long-term and arduous task, and it is a systematic project which needs the wide participation and joint efforts of all regions, departments and society. Looking forward to "Twelve-Five", the People's Bank will, in conjunction with relevant departments, in the preparation and implementation of a good Social Credit system construction "Twelve-Five" special planning, in accordance with the Division of responsibilities, strengthen coordination and cooperation, increase social Credit system construction efforts to further improve the Social credit environment, for the national economy and social