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Credit Reporting System Scope Broadened with 100% Domestic Trust Institution Coverage
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Date: September 2, 2014

The strong growth of the trust loan sector in recent years has necessitated more stringent requirements in terms of credit management. In line with the spirit of the Regulation of the Credit Reporting Industry and with the support of the PBC, the CCRC kicked off a revamp with regard to the collection of information pertaining to trust loan businesses by the credit reporting system in September 2013. To date, the commercial credit reporting system now covers 68 domestic trust companies with the total balance of reported trust loans at RMB4.6 trillion or 86.6% of the aggregate credit line for the trust industry. The data coverage of the credit reporting system has also further broadened as a result of this move.

A similar trend is occurring in the area of entrusted loans. Recently, the CCRC has also launched a revamp of the information collection process pertaining to entrusted loans.

For the future, the CCRC will, in accordance with the spirit of the Regulation of the Credit Reporting Industry and in line with market demands, work to facilitate credit system access for various types of institutions engaged in the credit business, as well as to provide assistance to institutions that are keen to access the system as early as possible. The CCRC will also continue to widen the scope of information collection for the credit reporting system, further the construction and application of this critical part of industry infrastructure, and enhance service levels.