China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (4562)	3/15/2005 12:34:56 PM
From: RealMuLan	Read Replies (1) of 6370

Briefly: Borrower database is planned in China Bloomberg News Wednesday, March 16, 2005 Borrower database is planned in China . China said Tuesday that it planned to set up a credit database containing information on individual borrowers as part of efforts to improve risk management in the financial industry. . Financial institutions would have to feed borrowers' track records to a nationwide database managed by People's Bank of China under a proposed rule posted on the bank's Web site. . Banks would tap the pool of information when issuing credit cards or managing personal-loan risks. . "In the future, individuals who default are likely to be on a black list and banned from borrowing," said Yuan Rongsheng, a researcher at the central bank's Shanghai branch. . iht.com

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