Research On China-Singapore Cross-region Credit Reference Cooperation Mechanism Under The Belt And Road Initiative

Since General Secretary Xi Jinping proposed the “Belt and Road” initiative in 2013,the construction of the “Belt and Road” has achieved remarkable results.However,the construction of the “Belt and Road” involves a large number of countries and regions,and the risks that may be encountered are diverse.It is necessary to take good risk prevention and reduce risks.Unfolding credit cooperation is undoubtedly an important way to reduce the investment risks caused by information asymmetry,strengthen cooperation between all parties,and further broaden cooperation areas.It is also a way to achieve policy communication,facility connectivity,trade smoothness,capital and financial connectivity,and popular support The necessary link of the "five links".In 2015,the Suifenhe City Credit Information Application Platform was officially launched,and a pilot credit cooperation program was launched with Russia.The cooperative credit investigation work between China and other countries was officially launched.Focus on advancing the project;On August 17,2019,the People's Bank of China Nanning Branch clearly stated in the construction and docking project of Guangxi's opening of ASEAN financial opening portals that strengthening credit investigation cooperation has become an important part of the construction of financial opening portals.However,the credit cooperation mechanism lacks corresponding research results at the theoretical level.It neither provides a theoretical explanation of the economic impact of credit cooperation,nor does it provide a theoretical explanation of the complex mechanism of cross-border information flow,nor does it assess the benefits of cooperation.And risk.This study sorts out the development of the credit reporting system between China and Singapore.By adding political factors,cultural distance,institutional distance and other practical factors that affect the cooperation between the two countries,a game model is established to study the general game model of the credit cooperation between the two countries.A punishment mechanism was introduced in the game model for establishing credit investigationcooperation with Singapore to study the cooperation between China and Singapore for credit investigation.The results of the study show that:(1)China and Singapore are faced with a complex cooperation environment for credit reporting cooperation.The cultural distance between the two countries is less than the average level,and the normalized institutional distance is also small,which is conducive to the smooth progress of cooperation;(2)The benefits and costs of cooperation are not the only factors that affect cooperation,and the factors that contribute to cooperation include the cost of non-cooperation;(3)The factors influencing credit cooperation between China and Singapore are not static,which increases the complexity of credit cooperation research and requires at least After the loss of one party's failure to establish credit reporting cooperation plus the future net gains of a third country's cooperation,the construction and maintenance costs of credit reporting can be covered.When the possible future cooperation gains of a third country are introduced as a punishment mechanism,after the loss of one party's failure to establish credit cooperation and the future net cooperation benefits of the third country,the construction and maintenance costs of credit investigation cannot be covered.It may be the case of optimal strategy selection.In the future,when the cooperation gains from third countries are relatively large and the direct benefits from both parties are small,both parties choose to carry out credit cooperation,which is still a long-term stable dominant strategy.Research suggestions: First,the top-level design of credit cooperation at the national macro level,leading the formulation of credit cooperation rules;second,establishing friendly and political relations with other countries;third,absorbing excellent foreign cultures and exporting excellent national culture;Fourth,carry out credit cooperation;Fifth,clarify the scope of credit information and implement dedicated and dedicated management.