China's Credit System Overhaul to Decrease Financial Risk and Boost Credibility.
The current credit structure in China is small, disorganized, and risky, with low credibility. Despite various credit forms and tools, financial transaction costs and risks remain high due to mismanagement. As the economy grows and structures improve, credit scales will increase, leading to the development of medium financial institutions and foreign financial units. This will enhance the financial market system and reduce financial exchange costs and risks.