PBOC Deputy Governor Zou Lan: Strictly enforce the licensed operation requirement for credit reporting agencies, and crack down hard on illegal credit reporting activities operating without a license.

The 17th Caixin Summit China was held in Beijing from November 11 to 13. Zou Lan, Deputy Governor of the People's Bank of China, stated at the meeting that the People's Bank of China will continuously improve the layout of the credit reporting market, actively cultivate influential market-based credit reporting agencies, adhere to the principle of being rooted in finance and radiating to drive development, strictly implement the licensing requirements for credit reporting agencies, and severely crack down on illegal credit reporting activities operating without licenses. It will strictly regulate and make good use of credit information that is "taken from finance and used for finance," promote personal credit reporting agencies to improve quality and efficiency, optimize and upgrade the enterprise credit reporting market, and focus on building and cultivating influential and driving benchmark credit reporting agencies and internationally competitive rating agencies. It will work with relevant departments to promote policy connectivity, mutual recognition of mechanisms, and data interoperability, support credit reporting agencies in collecting, processing, and handling public data and commercial data in accordance with the law, and rely on the relatively mature credit reporting system to promote the compliant and efficient circulation and utilization of data elements.