With the development of science and technology, people's lives have become increasingly inseparable from the Internet. People can make money through the Internet, such as online finance, Website Design , online stock speculation and so on. The main reason why online financial risks come from customers is that the social credit system is not sound enough. Taking China's Internet banking as an example, the credit risk of Internet banking has become the main obstacle to the development of China's Internet banking business. According to a media report, a city court in China concluded more than 10000 cases in 1999, accounting for more than 60% of all economic cases, of which 80% were economic disputes directly caused by "pit, Mongolia, abduction, fraud" and other non credit behaviors. Only one local financial institution had to be the plaintiff for more than 100 times in a year because of its recourse for overdue loans. This reflects the lack of credit concept among people and between enterprises and banks in China's current socio-economic and financial operation, and the credit relationship is quite chaotic.
When any society pays no price or only a small price for its dishonesty when it is banging on its credibility, the whole society will pay a high price for this, that is, interpersonal tensions, organizational relations are relaxed, economic development is blocked, national cohesion is reduced, and ultimately affects the development and progress of the whole society, endangering the competitiveness of the nation. China is in the stage of transition to a socialist market economy, the credit system is not perfect, there is a big gap with developed countries, and there is still a long way to standardize credit relations. Take the commercial credit provided between enterprises as an example. The amount of overdue accounts receivable among enterprises in China is far higher than that in developed countries. In developed market economy countries, the amount of overdue accounts receivable between enterprises accounts for 0.25% - 0.5% of the total trade volume; In China, however, the ratio is more than 5%. In 1998, 2.89 million cases of economic disputes and civil disputes over creditor's rights were accepted by courts all over the country, accounting for 51% of all cases accepted by courts. In European and American countries, credit payment between enterprises has accounted for more than 80%, and pure cash transactions have become less and less, accounting for only 5-10%; In China, many enterprises prefer to give up a large number of orders and customers, but refuse to adopt credit settlement. The proportion of cash settlement is as high as 30% - 40%.
In terms of personal credit, the personal credit rating and record in China are basically blank at present. It was not until 1997 that the medium - and long-term financial consumer credit began to develop in the fields of housing, durable consumer goods, etc. At present, the scale of consumer credit accounts for about 5% of the total scale of financial credit; The credit card lays particular stress on the saving function, and the consumption credit function it provides is very limited. In developed countries, consumer credit accounts for about 40% of the total scale of financial credit.
On June 28, 200(), 1.8 million Shanghai citizens took the lead in having personal credit reports made by credit companies, and the personal credit system in mainland China is no longer blank. Shanghai's pilot joint credit reporting system has a history of more than 150 years in developed countries. It is an important basis for the establishment of personal credit reporting system. For online finance, credit is even more important, because many transactions are completed in a "virtual" environment without meeting. Without a perfect credit system, the development of network finance based on credit will face huge risks.
