Largest consumer credit database in the world!

comes from the most populated country, not surprsingly. This will greatly improve the infrastructure for consumer lending in China. Banks are willing to lend to personal consumers only when (1) they can control the credit risk (2) the cost of checking credit is low.  Good news to consumers!
Consumer lendings, including residential mortgage lending, are much safer than commerical and industrial lendings. To reduce non-performing loans, Chinese banks have to rebalance their portfolio and increase the share of consumer lending, there are simply no other ways. So this is a good news for investors of Chinese banks, too.
A centralized state is sometimes a great advantage in getting such huge project done within a short period of time. Several years ago, Citigroup was trying to build their own consumer credit database in China. Don't know whether they are still continuing developing their own system.

China's central bank launches personal credit information database

BEIJING (AFX) - China has launched a national personal credit information database, in another step towards reforming the country's financial system, the central bank said. So far, this system has covered every commercial bank in China and some of the rural co-operatives, with 340 mln individuals in their records, the central bank said. At the end of 2005, the database had recorded 97.5 pct of total outstanding consumer loans, it added.