Research On Improving The Supervision Mode Of Credit Market In China

The credit reporting industry emerged after the reform and opening up in China. At that time, factors such as frequent non-performing loans of the banks and enterprises, information asymmetry between the bank and the customers, a weak social public credit consciousness contributed to a small-scale and slow-growing credit reporting industry which was confined to some regions. With the introduction of Administrative Regulations on Credit Investigation Industry and The social credit system construction plan outline(2014-2020), the central bank is authorized to be the management department of credit service, and the credit market is seen to develop rapidly with a gradual rise in the Internet big data credit and a substantial increase in the number of marketed credit institutions. Compared with foreign countries, China's credit market is still in its initial stage, and there are several problems to be addressed in the process of the supervision, for example, how to better protect individual's rights and interests, where to collect the credit data, how to use these data legally, and how to ensure a sound development of both the private and public credit institutions, etc. In this paper, we intend to discusse these problems and try to put forward some suggestions.To begin with, a brief introduction is made about the paper's background, writing ideas, sources of information, and then a research in the status quo of the credit market supervision both at home and abroad leads to the conclusion that the sholars in China focus mainly on credit system, laws and regulations with little attention paid to a thorough and detailed study of the supervision mode of the credit market management.In the first part, a comparative study is made with regard to the characteristics of the market supervision systems of the United States, Europe and Japan. Their characteristics are analysed and compared with one another. It is pointed out that the credit system of the People's Bank of China belongs to the Europe's public credit model, and both sides can learn from each other in the future.In the second part, we analyse the status quo of the supervision and existing problems of China's credit market and put forward related proposals and measures to improve current situation. To address the current promblems in the credit market, such as the deficiency of top-level design in the course of market development, the defective self-regulation mechanism, the immature credit institutions, the inefficiency of administrative supervision and the lack of the disciplinary system, we should accelerate the top-level design with regard to the supervision of the credit market so as to provide some appropriate regulationss, establish a national self-discipline association of credit industry to establish the self-discipline mechanism, promote the development of credit services to regulate the market regulation and standard, establish the mechanism of encouragement and punishment to optimize the credit market environment and strengthen the credit supervision of personnel training to enhance the potential industry development.Finally, we briefly summarize mian ideas of the paper and put forward some suggestions and expectations.