Promulgated by: State Council.
Document No.: 国务院令第631号 (State Council Order No. 631).
Adopted at the 228th Executive Meeting of the State Council on December 26, 2012. Promulgated January 21, 2013. Effective March 15, 2013.
Translation note — DCC. Translated in full from the official Chinese text (State Council Order No. 631, as published in the State Council Gazette). Terminology follows DCC’s bilingual glossary. The Regulations are the parent instrument of the PBOC’s Measures for the Administration of Credit Reporting Business (2021) and pre-date the Personal Information Protection Law, whose rules now apply alongside them.
Promulgation Order
The Regulations on the Administration of the Credit Reporting Industry, having been adopted at the 228th Executive Meeting of the State Council on December 26, 2012, are hereby promulgated and shall come into force as of March 15, 2013.
Premier Wen Jiabao
January 21, 2013
Regulations on the Administration of the Credit Reporting Industry
Chapter I General Provisions
Article 1. These Regulations are formulated in order to regulate credit reporting (征信) activities, protect the lawful rights and interests of the parties concerned, guide and promote the sound development of the credit reporting industry, and advance the building of the social credit system.
Article 2. These Regulations apply to the engagement in credit reporting business and related activities within the territory of China.
“Credit reporting business” as used in these Regulations means the activities of collecting, organizing, retaining and processing the credit information of enterprises, public institutions and other organizations (hereinafter collectively referred to as enterprises) and the credit information of individuals, and providing such information to information users.
The collection, organization, retention, processing and provision of information by the basic financial credit information database (金融信用信息基础数据库) established by the State shall be governed by the provisions of Chapter V of these Regulations.
The collection, organization, retention, processing and publication of enterprise and individual information by State organs, and by organizations authorized by laws and regulations to perform public-affairs management functions, for the performance of their duties in accordance with laws, administrative regulations and the provisions of the State Council, are not subject to these Regulations.
Article 3. Those engaging in credit reporting business and related activities shall comply with laws and regulations, act honestly and in good faith, shall not endanger State secrets, and shall not infringe trade secrets or individual privacy.
Article 4. The People’s Bank of China (hereinafter referred to as the State Council credit reporting industry supervisory and administrative department, 国务院征信业监督管理部门) and its dispatched offices shall supervise and administer the credit reporting industry in accordance with the law.
Local people’s governments at or above the county level and the relevant departments of the State Council shall, in accordance with the law, advance the building of the social credit system in their respective regions and industries, cultivate the credit reporting market, and promote the development of the credit reporting industry.
Chapter II Credit Reporting Agencies
Article 5. “Credit reporting agency” (征信机构) as used in these Regulations means an agency established in accordance with the law that is mainly engaged in credit reporting business.
Article 6. The establishment of a credit reporting agency engaging in individual credit reporting business shall satisfy the conditions for company establishment prescribed by the Company Law of the People’s Republic of China and the following conditions, and shall be subject to the approval of the State Council credit reporting industry supervisory and administrative department:
(I) its principal shareholders have a good reputation and have no record of major violations of laws or regulations in the most recent 3 years;
(II) its registered capital is not less than RMB 50 million;
(III) it has facilities, equipment, systems and measures for safeguarding information security that comply with the provisions of the State Council credit reporting industry supervisory and administrative department;
(IV) its proposed directors, supervisors and senior management personnel satisfy the qualification conditions prescribed in Article 8 of these Regulations;
(V) other prudential conditions prescribed by the State Council credit reporting industry supervisory and administrative department.
Article 7. An applicant for the establishment of a credit reporting agency engaging in individual credit reporting business shall submit to the State Council credit reporting industry supervisory and administrative department an application and materials evidencing that it satisfies the conditions prescribed in Article 6 of these Regulations.
The State Council credit reporting industry supervisory and administrative department shall conduct examination in accordance with the law and make a decision to approve or not to approve within 60 days from the date of acceptance of the application. Where approval is granted, an individual credit reporting business license shall be issued; where approval is not granted, the reasons shall be stated in writing.
A credit reporting agency engaging in individual credit reporting business whose establishment has been approved shall, on the strength of its individual credit reporting business license, complete registration with the company registration authority.
Without the approval of the State Council credit reporting industry supervisory and administrative department, no entity or individual may engage in individual credit reporting business.
Article 8. The directors, supervisors and senior management personnel of a credit reporting agency engaging in individual credit reporting business shall be familiar with the laws and regulations relating to credit reporting business, possess the credit reporting industry work experience and management capability required for the performance of their duties, have no record of major violations of laws or regulations in the most recent 3 years, and have obtained qualification for the position as approved by the State Council credit reporting industry supervisory and administrative department.
Article 9. Where a credit reporting agency engaging in individual credit reporting business establishes a branch, merges or divides, changes its registered capital, or changes a shareholder whose capital contribution accounts for 5% or more of the company’s total capital or whose shareholding accounts for 5% or more of the company’s shares, the approval of the State Council credit reporting industry supervisory and administrative department shall be obtained.
Where a credit reporting agency engaging in individual credit reporting business changes its name, it shall complete filing with the State Council credit reporting industry supervisory and administrative department.
Article 10. The establishment of a credit reporting agency engaging in enterprise credit reporting business shall satisfy the establishment conditions prescribed by the Company Law of the People’s Republic of China, and the agency shall, within 30 days from the date on which the company registration authority grants registration, complete filing with the local dispatched office of the State Council credit reporting industry supervisory and administrative department and provide the following materials:
(I) its business license;
(II) a description of its shareholding structure and organizational structure;
(III) basic information on its business scope, business rules and business systems;
(IV) its information security and risk prevention measures.
Where a filed matter changes, change filing shall be completed with the original filing authority within 30 days from the date of the change.
Article 11. Credit reporting agencies shall, in accordance with the provisions of the State Council credit reporting industry supervisory and administrative department, report on the conduct of their credit reporting business in the preceding year.
The State Council credit reporting industry supervisory and administrative department shall announce to the public the list of credit reporting agencies engaging in individual credit reporting business and enterprise credit reporting business, and update it in a timely manner.
Article 12. Where a credit reporting agency is dissolved or declared bankrupt in accordance with the law, it shall report to the State Council credit reporting industry supervisory and administrative department and dispose of its information database in the following manner:
(I) transfer it to another credit reporting agency, as agreed with that agency and with the consent of the State Council credit reporting industry supervisory and administrative department;
(II) where transfer under the preceding item is not possible, hand it over to a credit reporting agency designated by the State Council credit reporting industry supervisory and administrative department;
(III) where transfer or handover under the preceding two items is not possible, destroy it under the supervision of the State Council credit reporting industry supervisory and administrative department.
Where a credit reporting agency engaging in individual credit reporting business is dissolved or declared bankrupt in accordance with the law, it shall in addition publish an announcement in the media designated by the State Council credit reporting industry supervisory and administrative department, and surrender its individual credit reporting business license to the State Council credit reporting industry supervisory and administrative department for cancellation.
Chapter III Rules for Credit Reporting Business
Article 13. The collection of personal information shall be subject to the consent of the information subject (信息主体), and personal information shall not be collected without the subject’s consent, except for information disclosed in accordance with laws and administrative regulations.
Information relating to the performance of duties by the directors, supervisors and senior management personnel of an enterprise shall not be treated as personal information.
Article 14. Credit reporting agencies are prohibited from collecting information on an individual’s religious belief, genes, fingerprints, blood type, diseases and medical history, and other personal information the collection of which is prohibited by laws and administrative regulations.
Credit reporting agencies shall not collect information on an individual’s income, deposits, securities, commercial insurance or real property, or information on the amount of tax paid, unless the credit reporting agency has explicitly informed the information subject of the adverse consequences that may arise from providing such information and has obtained the subject’s written consent.
Article 15. Where an information provider provides individual negative information (不良信息) to a credit reporting agency, it shall inform the information subject in advance, except for negative information disclosed in accordance with laws and administrative regulations.
Article 16. The period for which a credit reporting agency retains individual negative information shall be 5 years from the date on which the adverse act or event terminates; information retained beyond 5 years shall be deleted.
During the retention period of negative information, the information subject may make a statement regarding the negative information, and the credit reporting agency shall record it.
Article 17. Information subjects may inquire about their own information from credit reporting agencies. Individual information subjects have the right to obtain their own credit report free of charge twice a year.
Article 18. Whoever inquires about personal information from a credit reporting agency shall obtain the written consent of the information subject and agree with the subject on the purpose of use, except where a law provides that an inquiry may be made without consent.
Credit reporting agencies shall not provide personal information in violation of the preceding paragraph.
Article 19. Where a credit reporting agency, information provider or information user obtains the consent of an individual information subject by means of standard contract terms, it shall include in the contract a prompt sufficient to draw the attention of the information subject, and shall give a clear explanation at the request of the information subject.
Article 20. Information users shall use personal information in accordance with the purpose agreed with the individual information subject, shall not use it for purposes other than those agreed, and shall not provide it to third parties without the consent of the individual information subject.
Article 21. Credit reporting agencies may collect enterprise information through channels such as information provided by information subjects, the enterprise’s transaction counterparties and industry associations, information already disclosed by the relevant government departments in accordance with the law, and judgments, rulings and the like published by the people’s courts in accordance with the law.
Credit reporting agencies shall not collect enterprise information the collection of which is prohibited by laws and administrative regulations.
Article 22. Credit reporting agencies shall, in accordance with the provisions of the State Council credit reporting industry supervisory and administrative department, establish, improve and strictly implement rules and systems for safeguarding information security, and adopt effective technical measures to safeguard information security.
A credit reporting agency engaging in individual credit reporting business shall make clear provisions on the authority and procedures under which its staff may inquire about personal information, register the inquiries made by its staff, and truthfully record the name of the inquiring staff member and the time, content and purpose of each inquiry. Staff shall not inquire about information in violation of the prescribed authority and procedures, and shall not disclose information obtained in the course of their work.
Article 23. Credit reporting agencies shall take reasonable measures to ensure the accuracy of the information they provide.
Information provided by credit reporting agencies is for the reference of information users.
Article 24. The organization, retention and processing of information collected by a credit reporting agency within the territory of China shall be carried out within the territory of China.
Where a credit reporting agency provides information to an overseas organization or individual, it shall comply with laws, administrative regulations and the relevant provisions of the State Council credit reporting industry supervisory and administrative department.
Chapter IV Objections and Complaints
Article 25. Where an information subject believes that information collected, retained or provided by a credit reporting agency contains errors or omissions, it has the right to raise an objection with the credit reporting agency or the information provider and request correction.
Upon receipt of an objection, the credit reporting agency or information provider shall, in accordance with the provisions of the State Council credit reporting industry supervisory and administrative department, mark the relevant information as being subject to objection, verify and handle the matter within 20 days from the date of receipt of the objection, and reply in writing to the objecting party with the result.
Where, upon verification, the relevant information is confirmed to contain errors or omissions, the information provider or credit reporting agency shall correct it; where it is confirmed that there are no errors or omissions, the objection mark shall be removed; where the matter still cannot be confirmed after verification, the circumstances of the verification and the content of the objection shall be recorded.
Article 26. Where an information subject believes that a credit reporting agency, information provider or information user has infringed its lawful rights and interests, it may lodge a complaint with the local dispatched office of the State Council credit reporting industry supervisory and administrative department.
The authority accepting the complaint shall verify and handle it in a timely manner, and reply to the complainant in writing within 30 days from the date of acceptance.
Where an information subject believes that a credit reporting agency, information provider or information user has infringed its lawful rights and interests, it may directly file a lawsuit with the people’s court.
Chapter V Basic Financial Credit Information Database
Article 27. The State establishes a basic financial credit information database to provide relevant information services for the prevention of financial risks and the promotion of the development of the financial industry.
The basic financial credit information database shall be built, operated and maintained by a specialized operating institution. The operating institution shall not operate for profit and shall be supervised and administered by the State Council credit reporting industry supervisory and administrative department.
Article 28. The basic financial credit information database receives lending information (信贷信息) provided in accordance with provisions by institutions engaged in lending business.
The basic financial credit information database provides inquiry services to information subjects and to information users who have obtained the written consent of the information subject. State organs may inquire about information in the basic financial credit information database in accordance with the law.
Article 29. Institutions engaged in lending business shall provide lending information to the basic financial credit information database in accordance with provisions.
Where an institution engaged in lending business provides lending information to the basic financial credit information database or to another entity, it shall obtain the written consent of the information subject in advance, and the provisions of these Regulations concerning information providers shall apply to it.
Article 30. The specific measures for the provision of and inquiry about credit information by financial institutions not engaged in lending business to and from the basic financial credit information database, and for the receipt by the basic financial credit information database of credit information provided by them, shall be formulated in accordance with the law by the State Council credit reporting industry supervisory and administrative department together with the relevant financial supervisory and administrative bodies of the State Council.
Article 31. The operating institution of the basic financial credit information database may charge inquiry service fees on the principle of cost recovery; the fee standards shall be prescribed by the competent pricing department of the State Council.
Article 32. Articles 14, 16, 17, 18, 22, 23, 24, 25 and 26 of these Regulations apply to the operating institution of the basic financial credit information database.
Chapter VI Supervision and Administration
Article 33. The State Council credit reporting industry supervisory and administrative department and its dispatched offices shall, in accordance with laws, administrative regulations and the provisions of the State Council, perform the duties of supervising and administering the credit reporting industry and the operating institution of the basic financial credit information database, and may take the following supervisory and inspection measures:
(I) enter credit reporting agencies and the operating institution of the basic financial credit information database to conduct on-site inspections, and inspect the compliance with the relevant provisions of these Regulations by institutions that provide information to or inquire about information from the basic financial credit information database;
(II) question the parties concerned and the entities and individuals related to the matter under investigation, and require them to explain matters related to the matter under investigation;
(III) consult and copy documents and materials related to the matter under investigation, and seal up documents and materials that may be transferred, destroyed, concealed or tampered with;
(IV) inspect the relevant information systems.
The personnel conducting an on-site inspection or investigation shall be no fewer than 2 in number, and shall produce their lawful credentials and the inspection or investigation notice.
The entities and individuals subject to inspection or investigation shall cooperate and truthfully provide the relevant documents and materials, and shall not conceal, refuse or obstruct.
Article 34. Where an incident such as a major information leak occurs at a credit reporting agency engaging in individual credit reporting business, at the basic financial credit information database, or at an institution that provides information to or inquires about information from the basic financial credit information database, the State Council credit reporting industry supervisory and administrative department may take necessary measures such as temporarily taking over the relevant information systems, so as to prevent the harm from spreading.
Article 35. The staff of the State Council credit reporting industry supervisory and administrative department and its dispatched offices shall keep confidential, in accordance with the law, the State secrets and the information of information subjects that come to their knowledge in the course of their work.
Chapter VII Legal Liability
Article 36. Whoever, without the approval of the State Council credit reporting industry supervisory and administrative department, establishes a credit reporting agency engaging in individual credit reporting business or engages in individual credit reporting business activities shall be banned by the State Council credit reporting industry supervisory and administrative department, its illegal gains shall be confiscated, and it shall be fined not less than RMB 50,000 and not more than RMB 500,000; where a crime is constituted, criminal liability shall be pursued in accordance with the law.
Article 37. Where a credit reporting agency engaging in individual credit reporting business violates Article 9 of these Regulations, the State Council credit reporting industry supervisory and administrative department shall order it to make corrections within a prescribed time limit and impose on the entity a fine of not less than RMB 20,000 and not more than RMB 200,000; the directly responsible person in charge and other directly responsible persons shall be given a warning and fined not more than RMB 10,000.
Where a credit reporting agency engaging in enterprise credit reporting business fails to complete filing in accordance with Article 10 of these Regulations, the local dispatched office of the State Council credit reporting industry supervisory and administrative department shall order it to make corrections within a prescribed time limit; where it fails to make corrections within the time limit, it shall be penalized in accordance with the preceding paragraph.
Article 38. Where a credit reporting agency or the operating institution of the basic financial credit information database, in violation of these Regulations, commits any of the following acts, the State Council credit reporting industry supervisory and administrative department or its dispatched office shall order it to make corrections within a prescribed time limit and impose on the entity a fine of not less than RMB 50,000 and not more than RMB 500,000; the directly responsible person in charge and other directly responsible persons shall be fined not less than RMB 10,000 and not more than RMB 100,000; where there are illegal gains, the illegal gains shall be confiscated. Where losses are caused to an information subject, civil liability shall be borne in accordance with the law; where a crime is constituted, criminal liability shall be pursued in accordance with the law:
(I) stealing or otherwise unlawfully obtaining information;
(II) collecting personal information the collection of which is prohibited, or collecting personal information without consent;
(III) unlawfully providing or selling information;
(IV) leaking information through negligence;
(V) failing to delete individual negative information upon expiry of the time limit;
(VI) failing to verify and handle information subject to objection in accordance with provisions;
(VII) refusing or obstructing an inspection or investigation by the State Council credit reporting industry supervisory and administrative department or its dispatched office, or failing to truthfully provide the relevant documents and materials;
(VIII) other acts in violation of the rules for credit reporting business that infringe the lawful rights and interests of information subjects.
Where a credit reporting agency engaging in individual credit reporting business commits any of the acts listed in the preceding paragraph and the circumstances are serious or serious consequences are caused, the State Council credit reporting industry supervisory and administrative department shall revoke its individual credit reporting business license.
Article 39. Where a credit reporting agency, in violation of these Regulations, fails to report on the conduct of its credit reporting business in the preceding year in accordance with provisions, the State Council credit reporting industry supervisory and administrative department or its dispatched office shall order it to make corrections within a prescribed time limit; where it fails to make corrections within the time limit, a fine of not less than RMB 20,000 and not more than RMB 100,000 shall be imposed on the entity; the directly responsible person in charge and other directly responsible persons shall be given a warning and fined not more than RMB 10,000.
Article 40. Where an institution that provides information to or inquires about information from the basic financial credit information database, in violation of these Regulations, commits any of the following acts, the State Council credit reporting industry supervisory and administrative department or its dispatched office shall order it to make corrections within a prescribed time limit and impose on the entity a fine of not less than RMB 50,000 and not more than RMB 500,000; the directly responsible person in charge and other directly responsible persons shall be fined not less than RMB 10,000 and not more than RMB 100,000; where there are illegal gains, the illegal gains shall be confiscated. Where losses are caused to an information subject, civil liability shall be borne in accordance with the law; where a crime is constituted, criminal liability shall be pursued in accordance with the law:
(I) unlawfully providing or selling information;
(II) leaking information through negligence;
(III) inquiring about personal information or the lending information of an enterprise without consent;
(IV) failing to handle objections in accordance with provisions, or failing to correct information confirmed to contain errors or omissions;
(V) refusing or obstructing an inspection or investigation by the State Council credit reporting industry supervisory and administrative department or its dispatched office, or failing to truthfully provide the relevant documents and materials.
Article 41. Where an information provider, in violation of these Regulations, provides to a credit reporting agency or the basic financial credit information database individual negative information that has not been disclosed in accordance with the law, without informing the information subject in advance, and the circumstances are serious or serious consequences are caused, the State Council credit reporting industry supervisory and administrative department or its dispatched office shall impose a fine of not less than RMB 20,000 and not more than RMB 200,000 on an entity, and a fine of not less than RMB 10,000 and not more than RMB 50,000 on an individual.
Article 42. Where an information user, in violation of these Regulations, fails to use personal information in accordance with the purpose agreed with the individual information subject, or provides personal information to a third party without the consent of the individual information subject, and the circumstances are serious or serious consequences are caused, the State Council credit reporting industry supervisory and administrative department or its dispatched office shall impose a fine of not less than RMB 20,000 and not more than RMB 200,000 on an entity, and a fine of not less than RMB 10,000 and not more than RMB 50,000 on an individual; where there are illegal gains, the illegal gains shall be confiscated. Where losses are caused to an information subject, civil liability shall be borne in accordance with the law; where a crime is constituted, criminal liability shall be pursued in accordance with the law.
Article 43. Where a staff member of the State Council credit reporting industry supervisory and administrative department or its dispatched offices abuses power, neglects duty or engages in malpractice for personal gain, fails to perform supervisory and administrative duties in accordance with the law, or leaks State secrets or the information of information subjects, the staff member shall be sanctioned in accordance with the law. Where losses are caused to an information subject, civil liability shall be borne in accordance with the law; where a crime is constituted, criminal liability shall be pursued in accordance with the law.
Chapter VIII Supplementary Provisions
Article 44. The meanings of the following terms in these Regulations:
(I) “Information provider” (信息提供者) means an entity or individual that provides information to a credit reporting agency, and an entity that provides information to the basic financial credit information database.
(II) “Information user” (信息使用者) means an entity or individual that obtains information from a credit reporting agency or the basic financial credit information database.
(III) “Negative information” (不良信息) means the following information that has a negative impact on the credit standing of an information subject: information on the information subject’s failure to perform contractual obligations in activities such as borrowing and lending, purchase on credit, guarantee, leasing, insurance and the use of credit cards; information on administrative penalties imposed on the information subject; information on judgments or rulings of the people’s courts ordering the information subject to perform obligations and on compulsory enforcement; and other negative information prescribed by the State Council credit reporting industry supervisory and administrative department.
Article 45. The conditions for the establishment of foreign-invested credit reporting agencies shall be formulated by the State Council credit reporting industry supervisory and administrative department together with the relevant departments of the State Council and submitted to the State Council for approval.
An overseas credit reporting agency engaging in credit reporting business within the territory of China shall be subject to the approval of the State Council credit reporting industry supervisory and administrative department.
Article 46. Institutions already engaging in individual credit reporting business before the implementation of these Regulations shall, within 6 months from the date of implementation of these Regulations, apply for an individual credit reporting business license in accordance with these Regulations.
Institutions already engaging in enterprise credit reporting business before the implementation of these Regulations shall, within 3 months from the date of implementation of these Regulations, complete filing in accordance with these Regulations.
Article 47. These Regulations shall come into force as of March 15, 2013.