Laws of the People's Republic of China

the People's Bank of China, the Ministry of Information Industry

Guiding Opinions of the People's Bank of China and the Ministry of Information Industry on the Pooling of Enterprise and Individual Credit Information as Shared by the Commercial Banks and Telecommunications Enterprises

No. 112 [2006] of the People's Bank of China

Shanghai Headquarter of the People's Bank, all the branches, business management departments, central sub-branches in provincial capitals and central sub-branches in cities at the deputy-provincial level of the People's Bank, all the state-owned commercial banks and joint stock commercial banks; the administrative bureaus for communications of all provinces, autonomous regions and municipalities directly under the Central Government, as well as China Telecommunications Corporation, China Network Communications Corporation, China Mobile Communications Corporation, China United Telecommunications Corporation, China Satellite Communications Corporation and China Tietong Communications Corporation:

With a view to fulfilling the requirements of the 16th National Congress of the CPC for "perfecting the social credit system in the modern market economy", carrying out the task of "promoting the inter-department pooling and integration of information resources and promoting the inter-department coordination of government affairs" as arranged by the state leading group of computerized processing, accelerating the construction of the enterprise and individual credit information system, promoting the business development of banks and telecommunications enterprises and advancing the social credit level, the People's Bank of China and the Ministry of Information Industry have offered the following guidance for the relevant issues regarding the pooling of enterprise and individual credit information by commercial banks and telecommunications enterprises. Please carry out them accordingly.

I.

Making plans in an overall manner and carrying out them in a step-by-step manner. The information pooling is a kind of complicated systematic project, so the principles of "Solving easier problems first and difficult ones later so as to promote the development step by step" shall be followed. We may start from the pooling of information on the telecommunication fees as defaulted by enterprises and individuals and then gradually enlarge the scope of information pooling, bring into play the function of the credit investigation system of accumulating credit wealth for enterprises and individuals. We may also make a pilot in some provinces and municipalities with comparatively high degree of computerized processing, and, based on the summarized experience, generalize it throughout the whole country.

II.

Making close collaboration and intensifying coordination. The workload of information pooling is large, and the work involves the regional branches and sub-branches of the People's Bank, the Ministry of Information Industry, commercial banks and telecommunications enterprises as well as different departments within specific entities. Therefore, the relevant departments and principals of Shanghai Headquarter, all the branches and sub-branches of the People's Bank as well as the administrative bureaus for communication of all provinces, autonomous regions, and municipalities directly under the Central Government shall pay great attention to, bring into full play their role of organization and coordination, actively take part in the work of piloting, and, based on broad investigation and researches as well as taking into consideration the opinions of all the parties concerned, formulate detailed piloting plans and report them to the People's Bank of China and the Ministry of Information Industry for archival filing before implementation.

III.

Protecting the legitimate rights and interests of users and utilizing the enterprise and individual credit information according to laws. The functionaries of all commercial banks and telecommunications enterprises shall accord with the relevant laws, bear the relevant obligations of confidentiality for commercial secrets and individual privacy as accessible and shall not violate the relevant provisions by unlawfully applying any enterprise or individual credit information.

IV.

The commercial banks and telecommunications enterprises shall share the information through the basic database of enterprise and individual credit information, which is a nationwide centralized and uniform platform for the credit information pooling as built up by the commercial banks under the organization of the People's Bank of China and is a key infrastructure project to build up the enterprise and individual credit investigation system.

Shanghai Headquarter of the People's Bank of China, all the branches, business management departments, central sub-branches in provincial capitals and central sub-branches in cities at the deputy-provincial level of the People's Bank of China shall forward the present guiding opinions to all urban commercial banks, rural commercial banks, rural cooperative banks, urban credit cooperatives and rural credit cooperatives within their respective jurisdictions.

The People's Bank of China

The Ministry of Information Industry of the People's Republic of China

April 7, 2006