China is working on a new social credit card system where credit card accounts will be linked to the identity numbers of each citizen and provide them with a credit card account for life. According to the proposal, there will be a unified social credit system for all citizens that will assign one number per person for each person’s life time.
The system is both for the security of the individual and for the nation as a whole as each account will be closely monitored and can be easily traced back to the owner. Strict rules will be applied to the accounts and transgressions can see an account suspended for up to five years.
The system is still just a blueprint but it remains to be see if and when it’s implemented, what the long term repercussions will be.
Warning：The use of any news and articles published on eChinacities.com without written permission from eChinacities.com constitutes copyright infringement, and legal action can be taken.
Keywords: Chinese credit card accounts for life
All comments are subject to moderation by eChinacities.com staff. Because we wish to encourage healthy and productive dialogue we ask that all comments remain polite, free of profanity or name calling, and relevant to the original post and subsequent discussion. Comments will not be deleted because of the viewpoints they express, only if the mode of expression itself is inappropriate.
Please login to add a comment. Click here to login immediately.
Sign up with
Google
(
(