Legislation. Of Our Credit System Is Perfect

China's transition from a planned economy to a market economy presents the credit crisis to a certain extent. Faced with such a grim situation, it is necessary for the government to establish a sound credit system, because the credit information system plays an essential role in both the national macroeconomic management and micro-credit management. The credit information system has just been implemented in China, while more than a century has passed since the credit information system began in Western and a relatively mature legal system has been formed. To all appearances, the credit information system needs to be established through various means and channels, including both public opinion on the ethical behavior and consummate law. The credit information system can't be founded only on the basis of moral consensus, because it is not only the lack of punishment of dishonest mechanisms, but their effectiveness is also low, except that it will also lag behind the rapid development of China's economy, so it is necessary to establish the credit information system by legislation. Because China, over a long period of time, has been in a state of no credit collection and lacks for the experience, the foundation of credit system faces all sorts of difficulties. On the legislative completeness of credit system, we must envisage these factors which constraints the development of credit information system. Since the first credit institution's appearance in China, the Chinese credit information industry has been developed for more than 10 years. However, the credit collection law system has been only documented in department regulations or local regulations. Although in 2002, the People's Bank of china Credit Authority drafted the "Credit Management Ordinance," but it didn't be passed because of the wider implications. Therefore, it is necessary to carefully study the major issues of the credit information system, and then perfecting the legislation of the credit information system on the basis of summarizing domestic experience and using foreign experience for reference.The full text is divided into four parts. Firstly, the credit system is summarized and the implication, characteristics of the credit information are introduced and the relevant concepts and the function of the credit information are analyzed. Secondly, the current situation of legislation on the credit information and the characteristics of the credit information in the United States, France, Belgium and Germany are presented. After analysis and comparison, the successful foreign experience is used as a reference for local legal department on the basis of the Chinese situation. In the third part, the actuality of legislation of credit in China is analyzed. Credit legislation must be based on the social macro environment and in line with the needs for development. Therefore, the author points out the problems of Chinese legislation credit based on the analysis of the current situation of the credit reporting in China. The main contents are as follows: lack of credit information's data open and the law of legal admissibility, lack of the legal protection of the privacy rights; the attention to the protection of the individual legal rights don't be paid; The credit industry's regulatory requirements confusion and lack of credit information industry self-regulatory requirements; Lack of dishonesty punishable relevant laws and regulations. In the forth part, how to construct the legal system of credit checking in China is thoroughly studied, which contains legislative perfection of the establishment model of credit institutions; legislative perfection of the credit data; legislative perfection of the protection of the individual legal rights; legislative perfection of the protection of the credit right; legislative perfection of the protection of credit reporting supervision; establishment of the credit punishment mechanism. In this article, according to the logical development, aims at presenting explanations in theory and suggestions in practice for legislative perfection of local credit reporting system step by step. Along this idea of thought, the knowledge of the establishment of local credit reporting system is in-deep studied and the investigation on legislative perfection of local credit reporting system is further impelled.This paper proposes the credit investigating model and legal system adaptive to the national situation of China by reference to the practice in western countries. The topic of this thesis is novel and interesting, and the research thoughts and methods are innovated. Based on the foreign legislation on credit reporting, the existing researches are improved. This article takes the legislative perfection of credit reporting system as core, avoids the disadvantage of satisfying surface of the facts during researching the credit reporting system. Simultaneously, some views and standpoint of selection of the credit reporting system model are proposed.