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Notice on Lowering the Service Fees of Credit Reference Centers of the People’s Bank of China

National Development and Reform Commission Notice on

Lowering the Service Fees of Credit Reference Centers of the People’s Bank of China

Development and Reform Commission Price Regulation Document no. 1232 (2017)

People’s Bank of China:

In order to carry out the strategic decision-making deployments of the State Council, to further ease the burden on enterprises, to optimize the developmental environment of the real economy, to promote the development of the real economy and the construction of a social credit system, matters relevant to the standard for service fees of your credit reference centers are hereby notified to you, based on relevant stipulations of the “Regulations on Managing the Credit Reference Industry”:

1. The standard service fee for queries on enterprises credit reports by commercial banks and other institutions is lowered from 60 Yuan per report to 40 Yuan per report. The standard service fees for query on individual credit reports is lowered from 5 yuan per report to 4 yuan per report. The actual standard is determined according to the quantity of data provided by the credit report system to the user organization, and by the amount of queries conducted. The specific computation formula and fee calculation method are described in the appendix. Read More