As a directly affiliated institution of the People’s Bank of China (PBC), the  Credit Reference Center (CCRC) is responsible for the establishment, operation, and maintenance of the Basic Financial Credit Information Databases (Credit Reporting System), the Unified Registration System of Movable Security, the Account Receivables Financing Service Platform, and the MSME Cash Flow Credit Information Interchange Platform (CFCII) according to relevant national laws, regulations, and the rules of PBC, including the Regulation on the Administration of Credit Reporting Industry, and Decision of the State Council on the Implementation of Unified Registration of Security Interests over Movable Properties and Rights. Registered in Pudong New Area, Shanghai, CCRC has 23 departments and 3 subsidiaries, namely Shanghai Credit Information Services Co., Ltd. (“Shanghai CIS”), Sinoinfo (Beijing) Credit Reference Co., Ltd. (“Sinoinfo Beijing”) and CRC (Tianjin) Movables Interest Registry Co., Ltd. (“CRC Tianjin”).

The Basic Financial Credit Information Database (Credit Reporting System) is a critical financial infrastructure of the State. The second-generation Credit Reporting System, which is comprehensively upgraded, delivers efficient services in a dual-active mode and records the basic information, credit data, and other details reflecting the credit status of individuals and enterprises. With the wide coverage and use, it has become the world’s largest credit information database. By establishing a credit information sharing mechanism, it effectively addresses information asymmetry in financial transactions, mitigates credit risks for lenders, and offers a diversified service portfolio including credit reports and value-added products, enabling responsible lending by financial institutions. It establishes credit profiles for individuals and businesses engaged in economic activities, facilitates financing access for those with good credit histories, enhances social credit awareness, provides strong support for real economic development, and contributes to advancing the “Development of Five Key Areas of Financial Services” (namely, science and technology finance, green finance, inclusive finance, pension finance and digital finance).

The Unified Registration System of Movable Security (Registration System) is China’s first Internet-based electronic platform for property rights registration, providing efficient nationwide registration services for securities over movable properties and rights. It provides registration and search services for seven types of secured transactions, including mortgage on production equipment, raw materials, work-in-process, and finished products; pledge of accounts receivable; pledges of certificates of deposit, warehouse receipts, and bills of lading; finance lease; factoring; retention of title; and other types. CCRC also promoted registration information sharing on security interests over vehicles, vessels, and intellectual properties. By providing free search service to the public, the Registration System establishes the priorities of property rights, enhances transaction efficiency and transparency in movable financing, prevents and resolves rights conflicts, improves financing accessibility for SMEs, and optimizes the business enabling environment.

The Accounts Receivable Financing Service Platform Financing Service Platform) acts as an information intermediary between finance suppliers and enterprises. By connecting government departments, commercial banks, and core enterprises, it fosters an online financing model centered on supply chains and government procurement. By revitalizing the industrial and supply chains, and unlocking the value of account receivables data, the Financing Service Platform resolves challenges in movable financing such as information asymmetry and verification of trade authenticity, thus facilitating SME access to account receivables financing.

The MSME Cash Flow Credit Information Interchange Platform (CFCII) is established by the PBC with the joint participation of financial institutions. CCRC is responsible for its establishment, operation and maintenance. The CFCII provides cash flow credit data sharing services for SMEs and individual proprietors in the principle of public welfare. It creates data accounts for SMEs to enrich their credit profiles and promote the application of cash flow credit information, effectively addressing the “credit invisibility” challenge for SMEs and supporting their financing needs.

CCRC upholds the principle of “credit reporting for the people” in operating the Credit Reporting System, the Unified Registration System of Movable Security, the Accounts Receivable Financing Service Platform, and National Cash Flow Credit Information Interchange Platform. It continuously enhances credit reporting and movable financing services, improves financing accessibility and convenience for all, so as to fuel the development of the real economy. By mitigating financial risks, optimizing the business enabling environment, and fostering credit awareness of the public, CCRC has been contributing its part to the building of a modern credit reporting system aligned with China’s socialist modernization goals.