Fu Junsheng from Sinotrust Credit Risk Consulting Services presented on the Development and Utilization of Enterprises’ Credit Data at a recent 2009’Chinese Society Credit System Development Summit 2009, organized by CMCMA and Credit Rating & Certificate Center of Academy of the Ministry of Commerce.

Fu Junsheng quoted from a recent study that indicates that at present in China, although 98.7% of the firms are anxious to understand customer’s credit status, and 57.4% of enterprises show different degree of worries about customer’s credit status, only 50% of enterprises have done credit survey on their customers.  “In regard to information management, enterprises are generally facing the following six enormous difficulties: lack of information, limited usage of information, unshared information, single information, outdated information, and information distortion.”  

BIIA Newsletter February 2010 Issue