Privacy, Internet Issues Cloud Credit Scoring

(Beijing) – Consumer credit rating services are moving into the financial system mainstream in China, but questions about privacy protection and Internet data mining are popping up like rocks in the water.

The People's Bank of China was expected to issue operating licenses in December to eight rating agencies including affiliates of Alibaba Group and Tencent, sources who requested anonymity told Caixin. Some applicants have already opened for business on a limited scale.