Wenzhou to establish one-stop credit system

Wenzhou, Zhejiang province, plans to establish a one-stop credit information system to improve the city's credit information environment, an official from China's central bank told Wenzhou City News.

Ye Tianhua, head of the Credit Information Center of the People's Bank of China's Hangzhou branch, said Wenzhou is going to build a credit system that includes all credit information so credit checks can be done with one request.

By the end of this month, 13 micro-credit companies and two village-level banks will be included in the city's overall credit system. This year, more micro-finance agencies will also be included in the system. Third-party credit information service companies will play essential roles in the system.

The system, Ye said, will be complimentary to the central bank's credit system and the social credit system of the development and reform commission, and will form an integrated credit information system in Wenzhou.