As a result, in 2014 and 2015, net exports subtracted a little over 1/2 percentage point from GDP growth each year, and econometric models point to a subtraction of a further 1 percentage point this year.
In order to strengthen market regulation and promote the establishment of a social credit system, the State Council entrusted the People’s Bank of China with the responsibility of promoting the institutional and system arrangements of a social registry system, regulate and promote the sound development of the loan registry industry, and approved the establishment of Credit Information System Bureau to undertake the specific works.