| With China carrying on the market economy reform for 30 years, there has been more promise-broken behavior in the formation of market economy system. Statistics have been indicated, that such losses have been over 1/4 of GDP every year. In the near future, there is a trend of the credit-loss in the entire society, and both government officials and scholar are more concerning about this problem. But current comments on it are limited to the phenomenon description and introduction of overseas experiences. Such explanations can't take any effection and cure it. The phenomenon is the essential reflection. It is necessary to solve this problem from institution. Therefore, this article inquires into the credit system from institutional evolution theory. In order to serve the researching goal, the full text is divided into seven chapters. First chapter is the foundation, including definition and literature. The following four chapters are the core theory, namely frame of a credit system. Chapter six and seven get the conclusion by experience research. Main contents are as following: Chapter one is about credit and its theory. This chapter first defines that the credit is the union between subjective honest and objective reimbursements. The credit system is economic and transitional behavior rule among people. It is the result of collection choice and each nation has its own choice in building and designing credit system. After that, this chapter concentrates on credit theory. The classical economists'understanding of credit is narrow, but still discover the root of credit. Marx has inherited the classical economic thought, taking the trust as the foundation or premise. He further proposes that, this kind of trust originates capital itself that is actually in person who has the ability of reimbursement. Marxism economics in credit research is a big innovation; In the neoclassical economic frame, under competitive Varlus equilibrium, there is no cheating and contract-broken with the revision of neoclassic theory and appearance of incomplete market correlation theory, the credit research receives gradually attention in the mainstream of economic domain, which comes from several aspects, including contract economic, information economics and game theory. When these theories and analysis develops logically, they still have the fatal flaw. Chapter two is about the environmental analysis of credit system. Credit system is formed in certain social environment, not vacuum. In other words, the gradual progress of the credit system is caused inter-dynamically between the party and its corresponding social background. Briefly speaking, the credit system depends on social believes in culture, and the credit system is "the mirror " or " historical accumulation " in historical period. Traditional Chinese trust emphasizes on self-control. The social trusting relationship is based on blood, which has determined the formal credit system based is very difficult to set up on, and is substitute by the unofficial credit system in form of the human relation; Western trust is established on contract and legal idea. It shows a kind of "disciplining by others" which forms trusting relationship based on contract. It is obvious that historical development paths lead to different credit system. Chapter three is about the motive force of credit system. The essence of the social development is the innovation. Innovation includes two respects, system innovation and technological innovation. This text thinks credit systemis pushed by property right innovation and technological innovation. Nature of credit is related to property right, which is clearly defined and prerequisite of creation of trust. The human society realizes contract trust during the transition from privately owned property right of public-owned property right. The technological progress is the basic motive force of productivity development. This is an existing common understanding of economic circles. Technological innovation, especially innovation of basic technology, supports the platform of the whole economic system operation (such as the technical revolution of information), acts on the change (productivity revolution) of the economic development model directly, and causes corresponding changes of credit system and appearance of the new credit organization. Chapter four is about the tied mechanism of credit system. The government and legal system are the important factor of tied mechanism. It is not all governments that help to promote social credit, but the governments should reward to the persons who keep one's word at least, and punish the persons who break one's promise. This demands to have sound legal system. Under sound legal system, because it is costly to break one's promise, people would not break one's promise easily. If the government can offer the safety net for society by improving institution, social credit will be enhanced. Establishment and improvement of laws and regulations are the establishment and implementation of social credit system. Chapter five is about the general course and mechanism of credit system. This chapter makes the analysis frame of the credit system. Meanwhile, many kinds of theories are combined in one theoretical system. Credit system changes are not to channel into a certain "normal course" by an invisible hand, but one course with evolution and non-optimum. It is one historical evolution course, and such changes depend on current condition. These details are results of the state in the past conversely. The small difference of the initialstate could facilitate the result of greater difference. This is a complicated evolution course with open system. In the theory structure of the perfect equilibrium of orthodox economics, economy exists out of history. Chapter six is bout the gradual progress and innovation of the credit system of our country. Point out differences in origin between China's credit system and the west from the visual angle of history. China looks for fulcrum from non-anonymous blood relationship, the west from anonymous blood relationship, then expand outwards. There is little difference between the two. But put in the history, the difference of the route causes difference bigger and bigger. So, it is necessary to consider its particularity while studying the Chinese credit system. System evolution is full of path dependent and innovation, and the gradual progress of the credit system of our country reflects this law. This chapter describes three stages about evolution of credit system of our country, and tries to find the solution for China's credit. It is meaningful to compare credit system between China and the West, but it should not transplant the western credit system directly. Master Mr. Liang Shuming has said: " China and the West are different, but not a difference on time definitely Chapter seven is about the institutionalized construction of China's social credit system. A few days ago, the Central Party Committee proposed establishing the system of perfect social credit, basing on morals, property righting and law. Our country is in a transitional period, which decides the lacking of credit. The institutional improvement of social credit is a system working, which needs individual, enterprise, and government to make joint efforts. To set up the credit system in conformity with market economy, the key lies in forming the inside contract idea and external legal norm. The main innovation of this paper is: First, new research angle and analytical method. This text has imbedcredit system in great background, introducing history and culture analysis based on economics. Meanwhile, this thesis draws lessons from analytical method of history comparative system, and adopts the analysis frame of evolving economics. Second, this text proposes the motive force mechanism of the gradual progress of credit system, including system innovation of the property right and technological innovation, and analyses its function mechanism. Third, comparing different credit system, and emphasizing path dependent and innovation in evolution of credit system, and introducing social capital theory in analysis of credit system. Fourth, analyzing the historical course and route of the gradual progress of credit system of our country, and proposing measure for innovation of credit system.
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