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Members seek credit system
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Creating credit
Wu Yan
MEMBERS of the SZ Municipal Committee of the Chinese People's Political Consultative Conference (CPPCC) on Monday brought up the question of building a personal credit auditing system in Shenzhen.
Sun Yong, a local CPPCC committee member, attributed the false documents sometimes cooked up by some accountants and auditors to a lack of personal credit. He also cited other malfeasance resulting from bad personal credit, such as nepotism, trading power for money, sale of diplomas and some local enterprises unable to collect their money in time.
Another member, Su Yue, pointed out the question of personal credibility is a roadblock for banks hoping to open consumption credit to individuals, a roadblock, moreover, which has been removed in Shanghai which began to carry out a personal credit auditing system on July 1 last year. She said that banks dare not to lend their idle funds to individuals because they know little of the people's records.
Both Su and Sun suggested setting up a personal credit auditing system based on a database of different individuals' credit history. It was even proposed to establish a personal credit administration bureau.
They urged the city legislature to make laws to safeguard the system's authoritativeness and legitimacy. They also appealed for transparent supervision of personal credit histories.
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