Setting Up China's Credit System Under The Condition Of Asymmetric Information

With the development of economic reform, it is well concerned that the anti-credit behaviors have greatly impaired the sound economic development of our country. The study on credit problem has been emphasized by all walks of people, ranging from the central government to the local government, from the famous scholars to the masses.Based on the asymmetric information, the article analyses the reasons of keeping credit or breaching credit from the view of economics. As a result, the article points out that the credit is not only as a media to facilitate the transaction of goods, but also as special goods to take part in the transaction. So after explaining the value, the use value and the factors which comprising the value, the article points out that the asymmetric information is the main factor which influences the supply and demand of credit goods. The ultimate aim of setting up a complete credit system is to decrease the asymmetric degrees of information. Under the assumption of credit goods, the main theory of designing the credit system is the signaling mechanism. The credit system comprises the credit signaling mechanism, the management system, the supervise system and the law system. In a word, it is One Mechanism, Three Systems. Then how to construct the credit system, in practical, is to set three layers, which are government, enterprise and individual. These three layers play different and important roles in the credit system. At last, the article discusses the concrete construction respectively.