1. LINE

      Text:AAAPrint
      Economy

      Mainland credit-rating network takes shape

      1
      2015-06-10 10:43China Daily Editor: Wang Fan

      Alibaba Group Holding Ltd's Sesame Credit Management ran a nationwide public beta of its credit-rating system last Saturday in what's seen as a vital step to commercialize the mainland's credit-rating system since the central bank gave the green light to eight private firms to provide personal credit reference services earlier this year.

      The People's Bank of China's Credit Reference Center (CRC) is the mainland's official credit-rating system for both company and individual users, and its reports are based on personal information, loan records and other economic activity in finance organizations.

      Sesame Credit, however, also uses other data to calculate the scores, such as a person's hobbies, interaction with friends, shopping habits and lifestyle.

      These are people who have been largely left out by banks' traditional credit-rating methods, especially students, low-income workers and those who have never borrowed from a bank, according to Deng Yiming, director of Sesame's business development.

      It is reported that Sesame adopted an international credit-rating method with a scale of 350 to 950 points, based mostly on their data on AliPay.

      A higher score means a better credit history, which can make borrowing easier and carries with it added benefits.

      People with 600 points above can use a shopping-credit system called "Just Spend" which allows users to take out a loan of less than 5,000 yuan ($805.9) when shopping on Alibaba's online market place Taobao. Those with more than 666 points can take a cash loan of up to 50,000 yuan.

      The company launched ist "credit VISA" service last weekend, expanding the application range of its rating system. Users with more than 750 points can apply "credit VISA" to Luxembourg and those with 700 points can apply to Singapore, without requiring incumbency certification, hukou and other documents.

      Sesame has also teamed up with peer-to-peer (P2P) lending companies which are starting to make use of big data analysis to control risks.

      Simon Loong, founder and chief executive officer of Welab - a Hong Kong-based company providing online lending services - thinks that big data alone is not enough in the mainland's complicated Internet financing market.

      Welab too launched its P2P lending platform in China in September last year, and has attracted loan applications involving more than 50 million yuan.

      Before taking the plunge, Loong conducted a thorough study of the new market environment and concluded that risk control is a vital factor in his business,

      "Given the fact that China's credit-reporting system is still in its infancy, those with the advantage of risk control technologies will benefit, while others have a high risk of failure," he said.

      To cope with the verified population on the mainland, they have started to explore "smart data" analysis. "Smart data can reveal casual relationship, an important factor for risk control, but big data analysis can't," Loong said.

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 亚洲无码精品浪潮| 日本一道本高清免费| 中文字幕专区在线亚洲| 污视频网站免费观看| 四虎永久成人免费影院域名| 亚洲av无码专区国产不乱码| 日韩精品免费电影| 亚洲人成人伊人成综合网无码| 亚洲熟妇无码AV在线播放| 亚洲成无码人在线观看| 最近中文字幕高清免费中文字幕mv | 亚洲无限乱码一二三四区| 最近免费mv在线电影| 亚洲情A成黄在线观看动漫软件| 免费人成在线视频| 亚洲国产区男人本色| 亚洲国产精品尤物YW在线观看| 国产va免费观看| 久久国产亚洲电影天堂| 久久A级毛片免费观看| 亚洲an日韩专区在线| 国产一精品一aⅴ一免费| 一出一进一爽一粗一大视频免费的 | 国产精品亚洲w码日韩中文| 两个人日本WWW免费版| 91亚洲va在线天线va天堂va国产 | 亚洲AV成人精品日韩一区| 亚洲精品亚洲人成在线观看下载| 久久国产一片免费观看| 久久久久亚洲AV无码观看| 大学生一级特黄的免费大片视频 | 毛片a级毛片免费观看品善网| 理论秋霞在线看免费| 亚洲AV中文无码字幕色三| 好先生在线观看免费播放| 手机永久免费的AV在线电影网| 亚洲AV永久无码精品一百度影院 | 亚洲国产aⅴ综合网| 99热在线免费播放| 色欲aⅴ亚洲情无码AV| 伊人久久综在合线亚洲2019|