According to data from the Boston Consulting Group (BCG), only about 35% of Chinese people were covered with credit records, lagging far behind a percentage of 92% in the United States. China will accelerate the establishment of a credit rating system and cities' credit development to play the value of credit in more social activities, said Lian Weiliang, vice-minister of the National Development and Reform Commission, China's top economic planner, at the first Summit on Credit City Development in China on July 18.
To create a credit society will help to build a credit economy. In this respect, a favorable atmosphere should be created to activate people's credit behaviors in cities and there is also an urgent need to establish a perfect social credit system, with an aim to promote the formation of a new commercial civilization.
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