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Thread: Will the credit system work out well in China ?

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[quote=KEVIN0518,244401]As is known to everyone, the credit is the most fundamental base of market economy. With the helpf the credit system, the market economy can develop in good order. Without it, the market can not grow in large scale and healthily. Even serious social problems may break out.

In recent years, China has scored great achievements in the development of credit system. The credit database for the enterprises and individuals  has been put up by the central bank and was put in use in January 2006. At present, about 12 million enterprises and companies and 0.57 billion people have been included in the credit database. Due to the establishment of the database, China's credit environment has been improved a lot. But there still exist some problems. For example, some college students own debts to banks and do not return their money back. The banks have no other ways except publicizing their names on the internet and hope this can make those students return their debts.

What do you think of the credit system? Will the credit system work out well in China?[/quote]

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