With just their name and ID card number any local resident in Shanghai will soon be able to look up their credit history on the Internet after the city launched two official credit report Websites yesterday.
Officials from the Shanghai Municipal Credit Investigation Administration Office yesterday announced the opening of the two Websites (www.mycredit.cn and www.credit.net.cn), which will host credit information about city residents and companies in Shanghai that can be searched for free.
To date, the credit database contains information on 5.77 million local residents.
The database contains information about loan histories, as well as credit card and utility bill payments. The system is touted as a reliable source of credit information on professions, such as accountants and insurance salespeople, for consumers to check before buying insurance or employing a service provider.
The personal credit system now has information about 32,000 licensed insurance salesmen as well as 2,500 certificated accountants in the city.
Any credit problems or business disputes will be recorded on their credit records.
Officials say the new system will greatly improve business credit among local professionals and warn them to avoid dubious dealings.
Representatives of 38 local business industry associations gathered at a launch ceremony yesterday for the start of "Credit Week" in the city.
(Shanghai Daily October 19, 2005)
