Private Firms Given Six Months to Ready Credit Data Businesses

(Beijing) – The central bank has given eight private companies six months to prepare for launching a business based on credit information from individuals and companies, the regulator said on January 5.

They include the subsidiaries of Ping An Insurance (Group) Co. and Internet giants Tencent Holdings Ltd. and Ant Financial Services Group, which is related to Alibaba Group Holding Ltd. and also controlled by Alibaba chairman Jack Ma.