International Experiences Of Credit Information System Construction In China 's Internet Financial Background And China' S Practice

The year 2013 was the initial year of China’s Internet finance, all kinds of Internet financial enterprises springing up. Internet finance brought innovation to the model of financing, payment, loans channel of traditional finance, also brought a lot of conveniences for people’s life. At the same time, the further development of the Internet finance is affected by the credit reporting system. Taking P2 P as an example, in the developing process, there were some illegal behaviors in the area of China’s network loans, such as self-built pools and unqualified lenders’ qualification. In addition, the third party payment, the network finance, and crowdfunding are facing different levels of management problems caused by the imperfect credit system.One of the most important ways to solve these problems is to establish and improve the Internet financial credit investigation system. The development of Internet finance in China is short-time and insufficient, not only lack of related laws and regulations for normalization, but also short for a credit investigation system for the Internet financial similar to the banking credit system. The Internet financial credit investigation system is helpful to improve the stability of the market and reduce financial risks, beneficial to the expansion of business for the Internet financial companies of all sizes, thus improve the credit information database, enhance the ability of resisting financial crisis, and finally form a good social credit atmosphere.Firstly, this paper has carried on a detailed introduction to the concept of the Internet financial credit investigation combined with the Internet finance, taking it as a relatively new concept and a new field. Secondly, the paper introduces new theories about both the credit and the Internet finance, including Internet economics theory, Metcalf Law, the long tail theory, and the theory of information economics, establishing a theoretical foundation for the credit reference system of Internet finance.Then, this paper introduces in detail the experiences of building credit investigation and the Internet financial credit reference system in United States, Europe, Japan and other countries, and discusses comprehensively the personal credit reference of United States, European public credit investigation pattern and membership credit reporting model of Japan. In the end, the thesis has carried on the review and analysis of China’s practices in the aspect of the Internet financial credit reference, in order to find out the deficiency, and then put forward targeted policies and suggestions aiming at the problems emerging in Internet finance sector.Aiming at the problems of China’s Internet financial credit system construction, this paper offers the following suggestions: first of all, strengthening and improving the theories study, industry supervisions, and public education; secondly, establishing the credit information sharing platform; thirdly, guiding and cultivating the self-discipline; fourthly, strengthening and cultivating domestic credit rating industry, establishing local unified credit evaluating model and evaluating system; fifthly, strengthening the supervision of credit reference; sixthly, establishing and improving the punishment mechanism towards faithless behaviors.