Foreigners' credit info will be recorded

Requirement strives to better monitor data sharing, prevent financial risk

Foreign borrowers' financial information will be recorded in China's national credit system, and the central bank is studying the feasibility of a cross-border information sharing mechanism to improve services for foreigners and prevent credit risks.

Foreigners wishing to borrow money from financial institutions on the Chinese mainland should register their nationality on personal credit reports, a new requirement of the People's Bank of China, the central bank, in order to better monitor domestic credit market information, said Wang Xiaolei, deputy head of the PBOC Credit Reference Center on Monday.