Credit bureau clears path for Chinese credit cards

China sets the ground for the use of ''real'' consumer credit cards.

Fifteen of Shanghai's commercial banks now have access to a consumer credit information system, paving the road for the introduction of 'real' consumer credit cards in China.

Shanghai Credit Information Services CIS set up the Consumer Credit Database System CCDS in response to the growing demand for consumer credit facilities in China. The lack of a database until now has prevented the establishment of a true credit card facility. The 1.18 million 'credit' cards in circulation in Shanghai are...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: credit | bureau | clears | path | chinese | credit | cards

Print Edition

FinanceAsia Print Edition