Analysis of local government debt management
After analyzing and comparing the advantages and disadvantages of online credit reporting and traditional credit reporting, this paper holds that online credit reporting system will be the future development trend. Further analysis? Platform credit information? And then what? Central bank credit information? On the basis of analyzing the advantages and disadvantages of this model, it is pointed out that the central bank credit information model is an effective way to quickly establish the internet financial credit information system at present. On the premise of perfecting the laws and regulations system of Internet financial credit reporting and clarifying the industry standards of Internet financial credit reporting, this paper puts forward the idea of promoting the integration of Internet financial credit reporting into the central bank credit reporting system and establishing the Internet financial credit reporting system.
Keywords: online credit investigation; Credit information system; Credit information of the central bank; Platform credit reporting
China Library Classification Number: F83 Document Identification Number: A
I. Research background and significance
Credit investigation refers to the intermediary service activities that investigate and report the credit or credit status of credit subjects (market participants), and its main function is to eliminate or reduce the information asymmetry between the two sides of credit transactions. The construction of credit information system is the inevitable requirement of China's social and economic development, the latest component of China's market economy and one of the important contents of China's innovative social management.
As a new financial model, Internet finance has developed rapidly, and the service types such as third-party payment, P2P network credit platform, crowdfunding, e-commerce big data finance, and Internet finance portal with the Internet as an independent carrier have profoundly changed the financial landscape. In the past two years, the number of domestic P2P online lending platforms has been increasing, but behind the rapid expansion, online lending companies have frequently appeared? A wave of bankruptcy? It also exposed problems such as the lag in the construction of the Internet financial credit system and the lack of supervision.
Enterprises and individuals pay more and more attention to the construction of social credit system, and the introduction of internet financial credit information system in the process of social credit system construction caters to the needs of the development of internet finance. However, there is no systematic construction and implementation method for the mode and structure of how to construct the Internet financial credit information system suitable for China's national conditions, and the construction of the Internet financial credit information system is also a relatively novel topic. At present, there are still great differences in the knowledge and understanding of China's credit information system. Nowadays, many people attribute the construction of credit information to building a database, building an information platform, or blacklisting. This understanding has certain limitations. We should realize that the construction of credit information system is an important work to improve the social management system in the process of deepening the construction of market economy in China, and it is also building a new type of social operation rules.
Second, the comparison between online credit reporting and traditional credit reporting
From Tmall, Ants, Sesame, etc. We can see the internal relationship among online commerce, internet finance and online credit information system. It can be said that the service chain of online credit information industry has initially taken shape. Network credit information is gradually separated from network business activities and appears as an independent form. Network credit service is becoming an important support for network economy and social development.
(1) Traditional credit reporting: small data of entity finance. Traditional credit investigation is a professional credit management service that collects financial and financial transaction information in a fixed mode, and processes, processes and reports the information. Traditional credit investigation, represented by the United States and marked by the establishment of 184 1 American Dunbar Company, is a common international credit investigation format. In China, the traditional credit information is represented by the credit information system of the People's Bank of China, which is bound by the Regulations on Credit Information Management. The establishment of institutions and the development of business need to apply for corresponding licenses. The characteristics of traditional credit investigation are:
Specialization and franchising of credit reporting agencies; what's up Small data? , focusing on financial transactions, centralized analysis of financial data, generally only dozens of data items, mainly involving income, assets and mortgage status, guarantees, etc. , mainly showing the debt situation; The main purpose is to predict the risk and repayment ability of credit transactions; The data acquisition channel is relatively narrow and fixed.
Traditional credit investigation relies on several professional organizations to establish their own entity databases and conduct targeted searches. Small data? , and then establish a fixed model, and then the system automatically uses these models to calculate the data in the database. Due to the slow update and expansion of data items, the credit reports and results obtained by data users are fixed in format and relatively static.
The traditional credit service depends on the coverage of the database. Although the traditional credit investigation has developed for a long time, it can not achieve full coverage. The credit information system in the United States is the most developed in the world, but at present, public information shows that the coverage of the credit information system in the United States is only 85%.
(2) Network credit reporting: big data of network behavior. Network credit information refers to the credit management services carried out by network institutions such as online trading platforms and e-commerce to collect, process and directly apply the massive data of the whole network. Network credit information is to obtain a large amount of network information by non-directional online capture of various data, so as to realize a comprehensive description of the credit track and credit behavior of network subjects. The main features of online credit report are:
Big data? The data source is extensive, and the information is comprehensive, which is not limited to finance, but also includes non-financial information, such as social behavior, written words, conversation sounds, pictures, etc., which is very social. On the network platform, online credit information can cover all people who participate in network activities, and there is no need to establish a special institution and database, nor does it need a lot of capital cost and manpower and material resources for database transmission, that is, there is no need to collect data for the purpose of collecting data. All data and information are naturally generated with network activities. As long as you search through the platform or directly use big data online, the cost is low and the threshold is low. This is also the reason why online credit reporting is developing rapidly and will inevitably become the mainstream in the future.
Three. Comparison between Platform Credit Information and Central Bank Credit Information
The establishment of Internet financial credit information system is an important means to prevent Internet financial risks and promote the further healthy development of Internet finance. At present, there are two modes to choose from in the internet financial credit information system: one is based on the internet financial service platform? Platform credit information? Mode; The second is to incorporate Internet financial credit into the basic database of financial credit information of the central bank. Central bank credit information system? )? Central bank credit information? Mode.
(1) Information source. The source of platform credit information is single, and the continuity cannot be guaranteed; The central bank has rich types of credit information and stable sources. The platform credit information mainly comes from the customer's behavior data in the process of business development, which reflects the customer's social relations and economic behavior characteristics to some extent. Take Ali as an example, the e-commerce platform is the only source of Ali's credit information, and Ali's credit information database only collects its customers' online transaction information and related information, so the information is highly directional.
The credit information of the central bank covers all walks of life and can reflect the credit status of the information subject, and there are many kinds of information. The Regulations on the Administration of Credit Information Industry clarifies the legal status of the central bank's credit information system, and forces institutions engaged in credit business to submit data to the central bank's credit information system. Therefore, it has a stable data source.
(2) Information quality. Platform credit reporting is time-sensitive, but it does exist? Information noise? ; The central bank's credit reporting is weak, but it does not exist? Information noise? . In the transaction process of e-commerce platform, once the transaction is generated, the transaction information will be collected and entered immediately, so the data of platform credit information has strong timeliness; But it will also produce a lot? Information noise? However, Internet information technology can't identify and select useful and true information from massive information, so it is difficult to comprehensively and accurately reflect the credit status of information subjects. Only with the consent of the information subject can the central bank collect relevant information, including credit information, credit information of public utilities and relevant information of government departments. , and generally entered by the relevant information source units, there is a certain time lag from information generation to entry into the credit database, and the timeliness of information is relatively weak; However, before collecting information, the central bank will negotiate with the information source units on the types of information, requiring them to submit data according to the established model, and the information source units will simply process the information and be responsible for the authenticity of the information, so it does not exist? Information noise? question
(4) Information processing ability. Platform credit reporting has strong information processing ability. E-commerce platform has powerful information organization, retrieval and sorting functions, which can standardize the sorting of massive information and meet the needs of different information users. In addition, the e-commerce platform relies on the advantages of big data mining and powerful information flow, which makes it difficult to quantify and spread? Soft information? Can be quantified and disseminated? Hard information? . The credit processing of the central bank is far less powerful than that of the platform. For example, the credit products and services provided by the central bank's credit information system are limited, but with the maturity of its model, its information processing ability will gradually become stronger and its functions will gradually improve.
(5) Enjoy credit information. For Internet finance, because each platform is a credit model established according to its own business needs, it is difficult to effectively enjoy the platform information because of the lack of unified industry credit standards, which restricts the role of the disciplinary mechanism for dishonesty in the field of Internet finance. After nearly ten years of development, the central bank's credit reporting has initially realized the sharing of credit information among commercial banks in real finance, and provided inquiry services for them, effectively preventing the credit risk of the financial system.
Four, China Internet financial credit system construction path
(1) Improve the system of laws and regulations, and provide legal guarantee for the construction of internet financial credit information system. The Regulations on the Administration of Credit Information Industry and its supporting system have initially established the legal framework of credit information in China, but many implementation rules have not yet been promulgated, especially the lack of effective norms for credit information activities in the field of Internet finance. To construct the legal framework of the credit information system of Internet finance, we should first speed up the relevant basic legislation of Internet finance, clarify the nature and legal status of Internet finance such as Internet finance enterprises and P2P financing platforms, make them legal information providers of the credit information system, and lay a legal foundation for accessing the credit information system; Secondly, under the framework of the Regulations on the Administration of Credit Information Industry, combined with the basic characteristics of Internet finance, the credit information of Internet finance is brought into the unified supervision category; Thirdly, according to the development and changes of credit information market under the background of Internet finance, the existing credit information laws and regulations should be revised and improved in time, and new credit information business models such as credit information activities based on Internet service platforms should be standardized and managed.
(2) Establish a credit information system for Internet finance industry and clarify the credit information standards. Unified credit standard is the premise of information interconnection. China's credit information standardization is relatively backward, especially the internet financial credit information. At present, the commonly used technical platforms supporting the credit system in China have quite different database structures and standards, including credit data format, content, indicators and identification, and technical support software, which leave serious hidden dangers for the integration and sharing of network credit information, information exchange and interface connection between databases, and also bring obstacles to the further processing, sorting and comprehensive application of credit information data. It is suggested that the National Internet Finance Industry Association be established to study and establish the national Internet finance industry credit information system, formulate industry credit information standards, unify key standards such as data collection, credit information report format specification and credit information service, and revise and improve the standard system through the development practice of the Internet finance industry, so as to realize credit information sharing of the whole Internet finance industry.
(3) Promote the comprehensive access of Internet finance to the central bank's credit information system, and realize the sharing and complementarity of credit information. The central bank's credit information system plays a very important role in realizing the pre-lending and post-lending risk warning, and almost all commercial banks regard inquiring the credit information system as a necessary link in reviewing loans. Incorporating internet financial credit information into the central bank's credit information system is an effective way to quickly establish a unified platform for internet credit information and build an online credit system. With the gradual establishment and improvement of the credit information system and credit information standardization in the Internet finance industry, we should actively promote the comprehensive access of Internet finance to the central bank's credit information platform, establish the docking mechanism and credit information exchange mechanism among financial institutions, Internet companies and third-party payment institutions, and form mutual promotion and complementarity between the central bank's credit information system and the Internet financial credit information system.
(4) Give play to the role of credit information mechanism and purify the Internet financial environment. The basic function of credit mechanism is to encourage trustworthiness and punish dishonesty. After the internet financial credit information is fully incorporated into the central bank's credit information system, it will further play the role of the credit information mechanism by enjoying complementarity with the central bank's credit information system. The first is to establish internet finance? Blacklist? System and market exit mechanism, increase the punishment for faithless people, and form an effective shock to faithless people; Second, improve the system and form of information disclosure? Breach of promise, subject to everywhere? A good environment will increase the market transaction cost of untrustworthy people and form a market punishment mechanism; The third is to establish and improve the social credit reward and punishment mechanism. Make use of social media and network resources to strengthen the exposure of dishonesty and form a public opinion environment of moral condemnation in the whole society; The fourth is to establish and improve the judicial credit punishment mechanism, investigate the civil or criminal liability of serious dishonesty according to law, and establish a judicial supporting system that meets the requirements of disciplinary action for dishonesty.
Main references:
[1]20 13 annual special issue of online loan industry.
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[3] Wu Jingmei. Future China Credit Information: Three Data Systems [J]. Credit Information, 20 13. 1.
[4] Du. Analysis on the development of credit information industry in the era of big data [N]. Financial Times, 20 14.9.29.
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