Shanghai's pilot free trade zone launched a credit information inquiry service yesterday to create a better credit environment and cut costs for enterprises located there.

The service, jointly launched by the zone's administration, the People's Bank of China and the city's information authority, offers access to credit information of 1.38 million enterprises and 24 million individuals.

The information includes both public credit records from 99 government departments and financial credit records provided by the PBOC.

Individuals and enterprises can ask for their own credit reports either at the FTZ's service center or online at www.shcredit.gov.cn, Shao Zhiqing, deputy director of the Shanghai Commission of Economy and Informatization, said yesterday.

Inquirers who ask for other's information should gain authorisation, the regulator said.

Shao said the regulator is also planning to introduce a mobile application for credit information inquiries to increase the convenience of the new service.

The regulator will still collect credit data from the FTZ customs and the maritime department, he added.