The establishment of credit registration system and market cultivation should be accelerated via unified planning and staged implementation; collection of basic credit information should be properly centralized to avoid duplicated system construction and information segregation; value-added credit reference services, such as credit rating and appraisal, should be fostered in principle of diversity and fair play.
We have in August issued a revised Guideline on Corporate Governance with a view to bringing improvements in the corporate governance framework of our financial institutions. The guideline has been aligned to the new recommendations of the Basel Committee on Banking Supervision and greater emphasis is now being laid on the independence of directors.