Personal credit management

Author: Liu Jiejiao
Publisher:
Publish Date: 2003-08-01
Features: Credit consumption is an inevitable product of the transition from a shortage economy to an excess economy, and also a sign of a society gradually moving towards a higher standard of living. In developed countries and regions, credit consumption has become the mainstream of urban consumption. In China, a large amount of credit sales appeared in the 1990s, but to this day, a sound credit environment has still not been established. The collection of payments and reasonable returns from credit sales is not guaranteed, and the institutional and cultural foundations supporting credit sales have not been established. Credit records and the related punitive mechanisms for credit supervision are incomplete. How to make full use of the benefits brought by credit sales while avoiding or reducing losses caused by credit risks has become a tough issue that credit management must address.