Personal Credit Protection Of Privacy

Currently, the community has a strong demand for information sharing, generally considered from a planned economy to market economy in the process of information asymmetry between borrowers and lenders lead to moral hazard and adverse selection, is the formation of commercial banks, the main reason for high proportion of non-performing loans one of the serious harm to China’s economic, financial, sustainable development, the establishment of the scientific credit system is imminent. However, the credit system is directly related to privacy and civil issues such as trade secrets, as the system must protect the laws and regulations, and the current laws and regulations of the relevant credit belongs to the "vacuum" zone, there were no laws or regulations for the levy of a activities based on the letter directly, in the information collection, processing, handling, disclosure of the key links, no laws; the same time, ignoring the personal privacy and trade secrets, blind or provide public information, would harm the interests of enterprises and individuals, affect and individuals to participate in the enthusiasm of credit information system, credit system to create new difficulties. Therefore, we must speed up the credit legislation, for information sharing and privacy protection to provide basic legal framework to ensure sustainable healthy development of credit reporting industry.In a sense, the modern market economy is the credit economy. Efficient and reliable social credit system is the normal operation of a modern market economy to an important cornerstone of a sound social credit system will be a country or a region the size of the overall macroeconomic, level and competitiveness have a decisive role. Security and stability of the market economy must rely on a comprehensive personal credit system. Credit Reporting a mature system of personal credit information must be open and used as the basis and premise. It can be said, no personal credit information if the disclosure and use of personal credit information system there is no way to establish credit. In the collection, preservation, processing, and sale of personal credit information at the same time, because of the corresponding laws, regulations and systems are not perfect, there is a lot of practice, the case of violations of personal privacy. With the Credit Reporting Industry on the further development and social needs of the Credit Reporting Industry to further expand, invasion of personal privacy will intensify the situation. How to protect personal privacy and promoting the development of individual credit information system for an optimal fit between the points, it will be for some time we have to seriously consider. Although our Personal Credit has an initial development, but, with its development also produced a series of social problems, which in the Personal Credit information flows conflict with the privacy protection is an urgent need to study and solve subject.Personal Credit Information Privacy Legislation, Credit Reporting System is a concern in the question.