China to improve construction of financing credit service platforms

China has released an action plan on strengthening the building of financing credit service platforms to facilitate the financing of micro, small and medium-sized enterprises.

The guideline, issued by the General Office of the State Council, urges efforts to better coordinate the building of such platforms and fine-tune the inclusive financing service system based on credit information.

Work will be done to improve the credit information collection and sharing mechanism, and to encourage financial institutions to provide high-quality services for enterprises, especially micro, small and medium-sized ones.

The country will optimize the national integrated financing credit service platform network, and integrate local financing credit service platforms with repetitive functions or inefficient operation.

Enterprises' information related to key personnel, qualification, and imports and exports will be included in credit information sharing lists, and financial policies benefiting people and enterprises will reach smaller firms through such platforms.