People’s Bank of China completes review of Experian’s application for corporate credit services
Beijing, China, Oct 8, 2018 — The Operation Management Department of the People’s Bank of China (“PBOC”) recently announced the completion of its review of an application filed by Experian Credit Service (Beijing) Co., Ltd. (“Experian”) to provide corporate credit services. Experian, a wholly British-owned company, thus becomes the only wholly foreign-owned enterprise in China to have successfully passed the PBOC’s application review process for the provision of corporate credit services.
“We are extremely pleased to have successfully passed the People’s Bank of China’s review process. Experian China has been actively providing enterprises in Greater China with insights into foreign and local markets, focusing on helping Chinese enterprises to expand into overseas markets,” said Mr. Huang Jian, Managing Director of Experian Greater China. “We take Greater China market very seriously and will continue to leverage our global resources and experience to provide customers with high-quality services, bringing new thinking and innovative insights to the industry.”
Experian submitted its application for conducting corporate credit rating operations in China to the PBOC’s Operation Management Department in May 2018. According to the activation announcement dated June 27, the company’s business scope includes corporate credit services, corporate management consulting and technical consulting.
Having first set foot in China in 2005, Experian’s operations in Greater China now cover four major areas, namely Credit Services, Decisioning & Analytics, Fraud & Identity, as well as Data Quality & Audience Targeting. The company combines its impeccable experience in financial risk control and big data to help customers make the best decisions. The PBOC’s approval of Experian’s application is the only one to have been issued in the past year. This landmark approval provides new momentum to Experian’s business. Henceforth, Experian will be able to help enterprises make business decisions more efficiently, while also contributing to the orderly and steady development of China’s credit service market.
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