China revolutionizes credit system by adopting Western practices for social credit information.
The article discusses how China can improve its social credit information system by learning from Western countries like the USA, UK, France, Germany, and Japan. These countries have strong laws, credit agencies, competitive markets, and regulatory systems in place. China needs to develop its laws, credit databases, industry associations, government roles, talent pool, and market demand to enhance its credit information system. By adopting best practices from Western countries, China can strengthen its credit information industry and improve its overall social credit system.