31 Mar 2015 Shanghai China Smart City Public Lecture 13-- Launch Credit Information System, Realize the Intelligence of Internet Finance, delivered by the president of Shanghai Credit Information Services Co., Ltd completed successfully .

Internet finance based on payment technology, cloud computing, social networking website, and search engine is providing an increasing number of services such as monetary circulation, online banking, third party payment, personal loan, corporate finance. It shares the similar functions as traditional finance does: monetary financing, term and earnings ration, risk control, etc.

Compared to traditional finance, internet finance is  low cost, high efficiency, wide coverage, rapid development. Nevertheless, it has non-ignorable deficiencies: moral hazard, risk control difficulty, internet safety, because of which Shanghai municipal government  in 2013-2015 Action Plan advocates the construction of Shanghai Municipal Credit system.

The credit system designed for credit investigation involves the collection, organization, storage, and process of credit information on natural person, legal person, and others, and social credit system provides products and services including credit report, credit evaluation, credit information consultation to help clients judge and control credit risk and make credit management.

With the aim of promoting the development of e-business, the construction of international financial center, and strengthening the construction of  SMEs credit system, Shanghai Municipal Credit System targets 12 fields: marketing, transportation, production, food safety, drug safety, product quality, business management, environment protection, civil administration management, government purchasing, government credit, and civil servant credit.

By 2013, the system has gained 466 thousands enterprise credit reports, 1.38 million legal person information, 24 million natural persons information, 83 organizations files, and achieved annual total revenue 832 million RMB. 

In addition to Shanghai Municipal Credit system, Shanghai Credit Information Services Co., Ltd, the first personal credit investigation company in China has been established. It provides investigation of personal credit, business credit, credit and loan, business credit, aiming to upgrade risk management level, prevent credit risk, increase credit transaction, promote the efficiency of economic operation, stimulate credit-keeping, severe punishment, arose public credit consciousness and finally stabilize society.

Shanghai Smart City Public Lecture Series is an integrated science popularization lecture open to the public. Each lecture addresses different key topics related to smart city development.  Since October 2013, 12 sessions of lectures have been successfully held.

 

 

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