510,000 people in Tibet have personal credibility records- People's Daily Online

510,000 people in Tibet have personal credibility records

11:14, October 13, 2009

By the end of June, 510,000 people in Tibet had set up their personal credibility files in the national credibility system, according to the People's Bank of China Tibet Branch.

The total account balance in the system had reached 8.2 billion yuan RMB (120 million U.S. dollars) by then.

Now, the amount of personal consumption loans extended in Tibet has increased sharply over that in 2006 when the national credibility system was introduced, and the credibility system has become a major means for banks to examine and approve loan applications.

Data from a spot check show that in the first half of 2009, two financial institutions in Lhasa, based on the inquiry of the database of personal credibility files, approved the extension of 1,351 loans of 160 million yuan RMB (23.4 million dollars) and rejected 119 loan applications with potential credibility risks.

In recent years, residents in Tibet have been paying closer attention to their personal credibility records, and more and more people now take credibility as their "second ID card".

Source: Tibet Daily/Xinhuanet

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