The Shanghai Branch of the People's Bank of China (PBC) has recently published the city's 2019 evaluation results of credit reporting compliance and information security. Shanghai Electric Group Finance Co., Ltd. was rated as Level A.
In 2019, the company, under PBC's requirements, has checked item by item all its corporate credit information against the PBC database quarterly and semi-annually to ensure the information is up-to-date and accurate. An annual credit audit has also been carried out to timely report results in credit information security checks, credit reporting compliance, and information security to the higher level of regulators. It also plays an active role in organizing and participating in various credit-themed events, for example, the "315 World Consumer Rights Day", the "614 Credit Record Care Day", and the "Credit/Financing Support for SMEs and Private Businesses". During these campaigns, the company has worked to enhance public awareness of credit security through roll-up banners, promotional materials, and field visits to enterprises.
This year the company will put in place the second generation of credit reporting system, becoming the first regional non-bank financial institution to launch a system upgrade.