Overview of Credit Reporting Services for 1. Enterprises

The definition of enterprise credit reporting service.

Enterprise credit reporting service refers to the service of collecting, sorting, analyzing and evaluating all kinds of economic activity information of an enterprise, forming an instrument reflecting the credit status of an enterprise, and providing the instrument or related information to the relevant subjects. Enterprise credit report is the basic product of enterprise credit system, and it is an important basis for evaluating the business situation, risk level and development potential of enterprises.

The content of the enterprise credit reporting service.

Enterprise credit reports usually include the following aspects:

（1) Basic information of the enterprise, such as name, address, legal representative, registered capital, date of establishment, business scope, etc;

（2) enterprise financial information, such as balance sheet, profit statement, cash flow statement, etc;

（3) Enterprise credit information, such as loan type, amount, term, interest rate, guarantee method, repayment status, etc;

（4) Bad information of the enterprise, such as overdue repayment, default, tax arrears, litigation, administrative punishment, etc;

（5) Other information of the enterprise, such as equity structure, related transactions, market share, competitors, industry analysis, etc.

The function of enterprise credit reporting service.

The enterprise credit reporting service has the following functions:

（1) Improve market transparency and enhance information communication and exchange among market entities;

（2) Reduce market transaction costs and reduce losses from information asymmetry and moral hazard;

（3) Improve market efficiency, optimize resource allocation and market competition mechanism;

（4) Strengthen market supervision and promote the construction of a social integrity system and a legal environment.

The value of corporate credit reporting services.

Corporate credit reporting services have different values for different market players:

（1) For government departments, they can obtain and analyze corporate credit reports to understand the economic operation of various industries, formulate reasonable and effective macro-control policies, supervise and guide enterprises to operate in accordance with laws and regulations, and maintain market order and public interests;

（2) For financial institutions, by obtaining and analyzing enterprise credit reports, assessing the credit rating and repayment ability of borrowers or investment objects, formulating reasonable credit policies and risk control measures, improving the efficiency and rate of return on the use of funds, and reducing the bad debt rate and loss rate;

（3) For the enterprise itself, it can obtain and analyze the credit report of the enterprise, understand its credit status and market situation, optimize its management and decision-making, improve its competitiveness and profitability, and enhance its credit image and social reputation;

（4) For other market entities, such as suppliers, customers, partners, etc., you can obtain and analyze corporate credit reports, select reliable trading objects and partners, reduce transaction risks and losses, and increase transaction efficiency and satisfaction.

The development status and problems of the credit reporting service of 2. enterprises.

The development status of enterprise credit reporting service.

With the development of market economy and the construction of social credit system, the demand and function of enterprise credit reporting service are becoming more and more prominent. According to statistics, up2022At the end of the year, China's corporate credit system accumulated more5000The credit information of 10,000 enterprises has cumulatively issued more2The hundreds of millions of enterprise credit reports provide an effective credit reference for various market entities. At present, the main providers of credit reporting services for Chinese enterprises are as follows:

（1) The National Credit Information Center is a national credit information agency authorized by the State Council. It is responsible for the construction and operation of a unified national personal credit information system and enterprise credit information system, and provides basic credit information products and value-added credit information services for individuals and enterprises;

（2) The Credit Information Center of the People's Bank of China is a public institution directly under the People's Bank of China, responsible for the construction and operation of the credit information system of financial institutions, and providing credit information data sharing and query services among financial institutions;

（3) Industry associations or chambers of commerce are social organizations voluntarily formed by enterprises in the same industry or region, which are responsible for collecting and sorting out the credit information of enterprises in the industry or region, and providing credit information services for enterprises in the industry or region;

（4) Commercial credit reporting agencies are legal persons or other organizations that engage in credit reporting activities for profit-making purposes in accordance with the law. They are responsible for collecting and sorting out various public or authorized corporate information, and providing diversified corporate credit reporting products and services.

The problems of enterprise credit reporting service.

Although corporate credit reporting services have achieved certain development and results in China, there are still some problems and deficiencies, mainly in the following areas:

（11) Insufficient information sources, resulting in incomplete information coverage, untimely update and unreliable quality. At present, the information collected by the Chinese enterprise credit information system mainly comes from government departments, financial institutions, industry associations and other channels, but lacks diversified information sources such as other market entities, social organizations, and media. At the same time, due to the imperfect information disclosure system, the unsmooth information sharing mechanism, and the imperfect information security protection measures, some information is difficult to obtain or update in time, which affects the integrity and timeliness of information. In addition, due to the lack of unified standards and norms in information collection, collation, analysis and evaluation, some information has problems such as distortion, error and repetition, which affects the accuracy and reliability of information.

（2) Insufficient product innovation, resulting in a single product, simple function and limited value. At present, the products provided by China's enterprise credit reporting system are mainly basic enterprise credit reports, but lack of value-added products customized for different industries, fields, scenarios and other needs. At the same time, due to the lack of effective application of new technologies such as big data, cloud computing and artificial intelligence, the product functions are relatively simple and traditional, which can not meet the needs of market subjects for in-depth analysis, prediction and early warning, risk assessment and so on. In addition, due to the lack of effective promotion and publicity of products, the awareness and utilization rate of products are low, which affects the market value and social benefits of products.

（3) The regulatory system is not sound, resulting in market disorder, lack of industry norms and deterioration of the credit environment. At present, the regulatory system of China's enterprise credit reporting system has not yet formed a complete legal and regulatory system, but multiple departments are responsible for different aspects of supervision, resulting in unclear regulatory responsibilities, different standards, and insufficient strength. At the same time, due to the lack of access and exit mechanisms for corporate credit reporting agencies, self-discipline and supervision mechanisms for industry associations or chambers of commerce, and litigation and arbitration mechanisms for market entities, some corporate credit reporting agencies have violations of laws and regulations, unfair competition, and violations. Rights and interests have affected the fairness and integrity of the market. In addition, due to the lack of effective incentive and restraint mechanism for enterprise credit information, credit education and publicity mechanism, credit repair and dispute resolution mechanism, some enterprises have dishonest behavior, affecting the social credit environment and the rule of law environment.

The development trend and strategy of the credit reporting service of 3. enterprises.

The development trend of enterprise credit reporting service.

In the face of current problems and challenges, corporate credit reporting services have also shown some positive trends, mainly in the following areas:

（1) Diversification of information sources to improve the comprehensiveness and timeliness of information. With the development and application of new technologies such as the Internet, the Internet of Things, and blockchain, corporate credit reporting systems can obtain more information from more channels and platforms, such as social media, e-commerce, smart devices, etc. Real-time monitoring and dynamic updating of credit information improve the comprehensiveness and timeliness of information.

（2) Diversification of product innovation to improve the functionality and value of products. With the development and application of new technologies such as big data, cloud computing, and artificial intelligence, corporate credit reporting systems can use more data and algorithms to develop more products, such as credit scoring, credit tags, and credit risk warnings. Realize the in-depth analysis and intelligent application of corporate credit information, and improve the functionality and value of products.

（3) Improve the regulatory system and improve the standardization and integrity of the market. With the establishment and improvement of the legal and regulatory system, the enterprise credit reporting system can operate under a clearer regulatory framework and standards, realizing the effective access and exit of enterprise credit reporting agencies, the effective supervision and guidance of enterprise credit reporting activities, the effective resolution and handling of enterprise credit reporting disputes, and the improvement of the standardization and integrity of the market.

The coping strategy of enterprise credit reporting service.

In order to adapt to and lead the development trend of enterprise credit reporting services, various market entities need to adopt the following strategies:

（1) Government departments need to strengthen the construction of the legal system, improve relevant laws and regulations, and clarify the construction objectives, operating principles, management responsibilities, etc. of the enterprise credit system; strengthen information disclosure, promote various government departments to disclose or authorize relevant information in a timely manner, and increase information sources; Strengthen information sharing, promote the establishment of effective information sharing mechanisms between various government departments or with other market entities, and improve information utilization; strengthen information security protection, formulate reasonable and effective information security protection measures to prevent information leakage or abuse; strengthen market supervision, establish and improve the access and exit mechanism of enterprise credit agencies, the self-discipline and supervision mechanism of industry associations or chambers of commerce, and the litigation and arbitration mechanism of market entities; strengthen credit incentives and constraints, establish and improve the effective incentive and restraint mechanism of enterprise credit information, credit education and publicity mechanism, credit repair and dispute resolution mechanism.

（2) Financial institutions need to strengthen information collection and actively provide relevant information to the enterprise credit reporting system, such as loan type, amount, term, interest rate, guarantee method, repayment status, etc.; strengthen information inquiry and actively use relevant information provided by the enterprise credit reporting system, such as enterprise basic information, financial information, bad information, etc.; strengthen product use and flexibly use relevant products provided by the enterprise credit reporting system, such as credit score, credit label, credit risk warning, etc.; strengthen risk management, according to the relevant information and products provided by the enterprise credit system, formulate reasonable credit policies and risk control measures, improve the efficiency and yield of capital use, reduce the bad debt rate and loss rate.

（3) The enterprise itself needs to strengthen information provision and actively provide relevant information to the enterprise credit system, such as basic information, financial information and other information of the enterprise; Strengthen information check, timely feedback or correct relevant information to the enterprise credit system, such as bad information, wrong information, etc.; Strengthen information maintenance, regularly update or supplement relevant information to the enterprise credit system, such as change information, new information, etc.; Strengthen product acquisition, actively apply for or purchase related products from the corporate credit information system, such as corporate credit reports, credit scores, credit labels, etc.; strengthen business management, optimize business management and decision-making based on the relevant information and products provided by the corporate credit information system, and improve competitiveness And profitability, enhance credit image and social reputation.

（4) Other market entities need to strengthen their information needs, inquire or obtain relevant information from the enterprise credit reporting system according to their own transaction or cooperation needs, such as enterprise basic information, financial information, bad information, etc.; Strengthen product selection, select or use relevant products from the enterprise credit reporting system according to their own transaction or cooperation needs, such as enterprise credit report, credit score, credit label, etc.; Strengthen transaction risk, according to the relevant information and products provided by the enterprise credit information system, evaluate the credit rating and repayment ability of the transaction object or partner, formulate reasonable transaction conditions and cooperation methods, reduce transaction risks and losses, and increase transaction benefits and satisfaction.