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Second Credit Service Agency Opens

China's second municipal-level credit management services agency opened in Beijing last month, reinforcing the country's aggressive drive to build up a sound business-credit-development climate in its soaraway economy.

China Daily reports that the Beijing Credit Bureau Company (BCB) is expected to provide all-round, objective credit analyses to companies and individuals, along with related other value-added services, all of which is backed by a huge amount of credit information and records garnered from, the market.

"It [the system] will greatly ease the bottleneck problem dogging the growth of the country's market economy by establishing a reliable bridge between trading partners, especially for those cash-strapped small- and medium-sized enterprises which lack solid back-up information when seeking loans from commercial banks," said Wu Bo, general manager of the company, at the agency's opening ceremony.

Beijing Credit Bureau is invested by four local companies: Beijing State-owned Assets Management, Capinfo, Zhongguancun Sci-tech Guaranty, and Beijing Small- and Medium-sized Enterprises Service Center.