On Establishment Of Legal System Of Credit In China

Credit is the inevitable requirement of the development of market economy, the economy lacking of credit is not real market economy. China's market economy has really achieved a lot of remarkable success since her Reform and Opening-up to the outside, however, there still exists some problems. Such as breaking contracts rate of market transactions remains high, "triangular debts" abound, and the phenomenon of manufacturing and selling fake goods is ubiquitous , all of these kinds of conduct that lacking of credit is full of China's market, and then it has become the bottleneck of our market economy's development. Serious lacking of credit and market demand for a sharp rise in credit make the construction of economy credit system urgently. The lack of the legal system of credit has hampered the construction of credit system. Credit system must be accompanied by its legal system that can develop healthily.Since 1990s, China's government has tried to explore the way to construct the economy credit. The state has adopted a series of measures to rectify the breach of credit in market transactions, such as a nationwide campaign to clear up "triangle debts". At the same time, the construction of credit system has also been put on the agenda. In the year of 2001, the construction of credit system is included in our country's Tenth five-year plan, in 2004, the 16th CPC Plenary Session clearly stated:"to establish and improve China's credit system supported by ethics, based on property rights, guaranteed by law."Unfortunately, the state ignored the development of the legal system of credit while building credit system, and this makes the development of China's credit face the embarrassment of no law to accord to. Now, how to establish the credit system has been studied extensively, but few results.There is important relations between the development of credit system and the prospects of China's martket economy.Beacause of the lack of the legal system of credit, the development of credit system is more difficult.So the most important issue is to build the legal system of credit line with our conditions when constructing credit system.This is also the experience of credit developed countries.As the Western developed credit countries have nearly two hundred years of credit hidtory,so my time in building the legal system of credit should not bahind closed doors,to actively learn from the advanced experience of Western countries. This article attempts to put forward some humble suggestions on how to construct China's legal credit system based on the analysis of the foreign credit system construction of legal credit system, and combined with China's actual conditions. Currently, there are three major credit development model– Market-oriented Model,Mode of Public Credit,Industry Association.Because, in China, the laws and regulations on credit are basically blank and the credit construction is just started built, the development model of credit adopt a"Dual Track"model and the Credit Legislation should adopt a Mix Legislation Pattern. That is, to legislate the special credit laws, and at the same time to perfect our existing laws and regulations. First, to draw up the Basic credit Law, to regulate the basic issue of credit; Second, to gradually draw up the laws and regulations on other specialized areas such as credit rating, credit information discoursed to the public after the credit develops mature; Finally, to revise and perfect our Civil, economy and Commercial Law in China, adding credit content. This kind of mode of building up the credit legal system can not only build the basic legal system to resolve specific issues but also can avoid the credit laws running counter to the existing regulations.The building of credit is essential for the development of a country's economy,the credit environment is good or bad decision quality of a country's investment environment ,affect of economic development.In the rapid development of economic integration and the trend of globalization,the development also presents a certain credit of globalization and convergence.Credit model occurs the large degree of convergence,the common development of different credit models,and mutual assistance.The model of credit legislation and concept of credit legislation alsoappears appears assimilation,the common goal will balance credit information flow and credit of privacy protection.