China's Bank-enterprise Credit System - From The Perspective Of Transaction Cost Analysis

Credit system is a kind of effective contract or system arrangement being explored by human beings in order for cutting down the exchanging cost. The cost decreased a lot form the bartering to the emerge of currency and the establishment of currency system. With the development of society, currency system evolved into credit system and security form, which in turn greatly increased the economy efficiency and at the same time, greatly improved the configuration of the resource of the whole society.Credit has always been an important factor affecting our market economy from developing intensively. The absence of credit lead to the increase of the exchanging cost, and credit risks deteriorate the financial risks, which will do great harm to the capital market, financial market and other respects as well, restrict the market from excercing its foundamental function of resource configuration.It will bring negative influence to the whole economy, Through enhancing the credit assessment and restructuring the credit system, the investors can get more definite and effective information, and can get credit certificate from those who borrow money. And further, propagate the strengthening of credit system of the whole society.The absence of credit and the imperfect of credit system are two main problems in front of us, we should get them solved through recognizing of the regularity of economy, strengthen related legislation, absorb those experiences from developed country, and in turn find a way to develop and restructure the credit system of our own.The economy we're constructing are a kind of credit economy, it depends on the regularly operation of credit management system. The credit system in our country is still in a primary period, and still need to be regulated in many respects compared with those country within an world wide scope. So it is an very important and practical for us to think how to restructure our credit system between bank and enterprises against the experiences of other country at present situation.