China to launch information platform for supply chain finance

The platform will collect, organise and process information of these firms comprehensively from related supply chains and industry chains to depict such firms at different levels in a complete business network, the National Internet Finance Association of China (NIFA) said.

Operational and financial data of such firms will become accessible to decrease their difficulties of borrowing from financial institutions due to lack of information. The platform will provide such firms with low-cost and sustainable financial services while enabling financial institutions to identify clients accurately to control risks of lending, NIFA officials have stated.

Some of these companies business, tax, receipt and judicial information, as well as operational data including peer-to-peer lending, supply and marketing, storage and logistics, will be accessible in the near future.