Indeed, beyond the recent period of low interest rates, we have witnessed a considerable decline in real yields on long-term government bonds in major advanced economies since the start of the 1980s. Owing to its persistence and outreach, this decline is often attributed to secular or global forces.
340 million individuals are registered in the individual credit registration system; among whom, 35 million individuals have credit records, with 2.2 trillion yuan of outstanding balance of loans, accounting for 97.5 percent of the outstanding balance of total consumer loans and daily inquiry averaging at 110 thousand times. These two systems have played a crucial role in preventing credit risks.