Study On The Construction Of The Legal System Of Individual Credit Checking

Credit is a basis of the market economy, a foundation of the marketing and the basic assurance of the market orders. The individual credit has already been a "second ID Card" of an individual in the society of the market economy. In the further improvement of our country's socialist market economy system, the lack of the individual credit has hindered the economic and social development of our country. The harmonious and auspicious credit society is the uppermost state that we Chinese people have pursued for a long time. The individual credit checking (ICC), as a means of systematically investigating and evaluating the comprehensive economic ability and solvent inclination of an individual, can solve the problems of asymmetry, reduce the transactional risks and promote the development of the market economy, which can ultimately be an effective approach to establish a credit society. Credit is helpful to the development of our country's market economy. And the establishment of a credit society contributes greatly to the development of the individual credit checking which calls for the construction of the legal system of the individual credit checking in our country.The legal relation of ICC means a kind of relation formed in the process of regulating ICC agencies' acts between rights and obligations in law. It includes the subjects, objects and contents. Today, the ICC is just in the beginning in our country, and we are facing lots of difficulties, so the present situation of our country's ICC is not optimistic. Our country's development of the ICC, as a whole, falls behind the developed countries, like European countries and USA. There is a great gap between our country and them in the legislation of the ICC especially. The bottleneck of individual credit information, subjects of market lacking enthusiasm for our country's ICC, and the lack of the legal system of ICC has restricted the development of the ICC seriously. In our country, the lack of the legal system of ICC is the biggest obstacle that the development of ICC is facing. The developed countries, like European countries and USA, have perfect legal systems of the ICC. Using them for reference will be very useful for the construction of the legal system of the ICC in our country. We need the legislation of ICC urgently for the development of our country's socialist market economy, for the enhancement of the international competition capabilities and we also need it for raising bank's efficiency and reducing the rate of disobeying orders. Therefore, one of the urgent affairs for us to do is to construct our country's legal system of the ICC as soon as possible. The legislation of our country's ICC should be made by the State Council and it should emphasize on raising banks and governments'efficiencies and define the range of individual credit information. Allow the ICC agencies to collect the personal basic identity information, and not allow them to collect the information of the nation, race, family background, gene and so on. The legislation of our country's ICC should balance the disclosure of individual credit information and the protection of the personal right of privacy. So the ICC agencies will not infringe the personal right of privacy when they disclose individual credit information. Meanwhile, the legislation of our country's ICC should stipulate the People's Bank of China to be the credit supervision that monitors and manages the ICC agencies, the personal credit information providers and users. The legislation of our country's ICC should stipulate how to construct the system of reprimand and reprimand those who don't keep their promises. It also should stipulate the four basic requirements that the ICC agencies' acts are tortious and the legal liability they should take.