Construction Of Credit System And Government's Function

The construction of credit system and the formation of credit environment guarantee the market economy running in a way of healthy circle and drive the social development in a healthy way. At present, the credit situation in our country has become the bottle neck that curbs the economic development to some extent, and the severe shortage of capital credit, commerce credit and product credit has seriously violated the social order. Credit issue has aroused all levels governments'high concern. Some local governments in Shanghai and Beijing have begun to construct credit system. This paper, based on the perspective of the government function, in accordance with the informational economics theory and market-ineffective theory, will discuss the government function in the credit structure and how to participate in the construction. Through the analysis against practicing course of our social credit system, we found the following problems: too much government departments'intervention which caused the separate situation. Excessive government intervention which made the government tend to be Unlimited Government. The monopoly of the credit information by the government, slow development of the credit firms, non-standard credit information, and lacking necessary regulation support. Meanwhile, there are difficulties in constructing the credit system. First, there is no national law and regulation on credit management and the publicity of credit data lacks guarantee in the aspect of system. The credit market is not formal yet. Regarding on how the government function intervenes the construction of credit system, we are on the point that, during the course of constructing credit system, we should follow the principle of Promoted by government, Run in accordance with the market rules. The premise of government's participating in the construction of credit system is to establish government credit and the concept of limited government. In this paper, we are on the point that China's credit system should include: law system, supervision system, education system, credit system and credit intermediary system. We should follow the following principles when constructing the credit system: systematicness, overall importance, feasibility,...