Central Bank Proposes Expanding Credit Database to Non-Bank Lenders

China’s central bank has proposed sweeping updates to its credit information database, expanding regulatory coverage to include corporate data and non-bank lenders while targeting abusive credit-repair agencies.

The draft measures, open for public comment until Oct. 30, seek to overhaul a 2005 regulatory framework. The proposed changes align with China’s broader data protection laws and aim to improve the security of financial data, ensure the accuracy of information and curtail a surge in malicious credit complaints.