The Road to Credit.docVIP

The Road to Credit 　　Booking a hotel room with your credit records， applying for immediate petty loans online， checking the credit record of the housemaid you are to hire， trusting a stranger to deliver goods for you by only checking his credit records―all these scenes will soon come true， and it is the personal credit information business that will bring people these conveniences. 　　In January， the People’s Bank of China（PBC）， the country’s central bank， released a document requiring eight nonbanking institutions to be ready to conduct personal credit investigation within six months. The companies included Sesame Credit Management under Alibaba Group， Tencent Credit Services， China Chengxin International Credit Rating Co. Ltd. （CCXI） and Intellicredit Inc. 　　Although the eight institutions have not yet presented timetables for the personal credit investigation business， China is inching closer to becoming a credit-based society. 　　 Final spurt 　　“We are preparing for the check by the PBC， and will further improve the business in accordance with related regulations，” said Feng Jun， President of Beijing Sinoway Credit Co. Ltd.， which is among the eight institutions required by the PBC to conduct personal credit investigation. From registering businesses， recruiting personnel， setting up data centers， establishing partnerships and testing the first products， Sinoway has been ready. 　　The central bank has recently issued the application form and list of required documents to the eight institutions， urging them to report their latest information on organizational structures， business conditions， internal control systems and technical back-ups. 　　Li Xuan， CEO of Intellicredit Inc.， said the form mainly includes submitted related corporate information， and the company will soon make internal and external checks to prepare for the final examination of the PBC. 　　While Sesame Credit Management’s Sesame Scores and Lakala Payment Co. Ltd.’s Koala Scores have alrea