Research On The Protection Of Credit Right In Individual Credit System In China

In the modern market economy, credit plays an important role. Credit transaction, commodity trading are based on the credit. We can say that the modern market economy is the credit economy based on law. However, there is a problem of asymmetric information in credit trading, increasing the risk of credit transaction. The generation of credit system is to solve the problem of asymmetric information, avoid credit risk, and promote efficiency of market operations. Credit system can be divided into enterprise credit system and individual credit system from the perspective of the credit object, this paper discusses about the credit right under the individual credit system. In the individual credit system, credit agencies will gather individual credit information, which will be made into a credit report or credit rating, and provide credit information to the user. During the credit investigation, individual credit right has the risk of invasion. Individual credit right is the right to protect personal social evaluation from harm, and the right to maintain, use the credit. When the bad credit information in individual credit system is caused by a third party, the credit subject will suffer pecuniary loss and metal damage. The central bank released the "notice on the preparation of individual credit investigation service". According to the notification, eight private credit institutions, including Sesame credit institution, need to be prepared to work the individual credit services. This action means that the credit market will gradually move towards commercialization, marketization. With the opening of the individual credit market, individual credit right will face more potential threat. Therefore, I believe that it is necessary to improve the relevant laws and enhance supervision to protect individual credit right.This article is divided into the following four parts:The first part introduces individual credit and credit right. Also the author explains the value of credit right’s protection.The second part lists two judicial cases related to credit rights to pointed out that the judicial practice recognizes the existence of credit right, but use the way of reputation protection right to protect credit right. Although reputation and credit right have some in common, they have essential difference. It is recommended to take direct protection way to protect credit right.The third part discusses the constitutive elements and legal liability of infringement of credit right. The constitutive elements include tort, damage fact, causality, and subjective intention. The liability includes administrative liability, civil liability and criminal liability.The fourth part is the advices to perfect the protection of credit right. On the one side, it is necessary to perfect related regulation. On the other side, we must strengthen supervision, including supervision of government and industry self-regulated system.