Research On Personal Credit System Of Consumption Credit In China

Chinese economic system reform has been carried out for forty years.The continuous development of the market economy has promoted the improvement of people's living standard,the innovation of enterprise organization management and the progress of government management function.However,excessive productivity and insufficient consumption demand have always been the important factors that restrict the further development of Chinese market economy.In order to solve the contradiction between supply and demand in the economic development,the government introduced consumption credit business into Chinese financial market at the end of the twentieth Century.Before the emergence of consumption credit,Chinese national consumption is often bound by their current income level,which greatly suppressed their consumer demand.This finally brought the problem of insufficient total social demand.Consumption credit can stimulate the consumer's desire to consume in the form of loans.But because of consumption credit in China started late,compared with foreign developed countries there is still a lot of risk.One of the most prominent is the credit risk issues highlighted in the new Basel capital accord.If we can not effectively manage credit risk,it is difficult for our country's consumption credit to play its powerful role in stimulating the national economy as in foreign countries.Our imperfect construction of personal credit system is the root cause of the problem of credit risk,which has become so prominent.This is just the gap between our country and Europe&America.From the perspective of theory,this paper affirms the positive meaning of developing consumption credit from various angles,including individual,industry and macro economy,and reveals the credit risk in its development.As the most effective way to solve the risk problem in the credit market,the construction of the personal credit system has become very necessary.This paper introduces the current situation of the construction of our personal credit system,including the legal system of personal credit system,credit rating agencies,credit evaluation and supervision mechanism.Then,in view of the personal credit started earlier in Europe and other developed countries,the development has reached a mature level,this article summarizes the current world's most typical of the three personal credit system,the credit institutions,legal basis and credit evaluation point of view on the characteristics of the three,and summed up the key to consider building a sound personal credit system:scientific and reasonable credit information collection and management methods,the credit evaluation system and model and perfect credit supporting legal and in accordance with the national day of the personal credit management and business model.Finally,on the basis of learning from the mature experience abroad,aiming at the problems existing in the current personal credit system of China,we put forward the constructive view and make the anticipation to improve the impact of personal credit system on the development of consumption credit in China.