Asian Tech Press (Sep 22) -- Huabei, the main lending unit of billionaire Jack Ma's Ant Group, announced Wednesday that it is gradually pushing forward to link to the credit scoring system of China's central bank.

According to the announcement, some users are now able to check their own credit report for their Huabei lending records based on their authorization, and the credit service will gradually cover all Huabei users in the future.

It is noted that both the credit authorization agreement and the notice content received by Huabei users show that, depending on the specific source of the credit line obtained by the user, the credit information of the user will be reported by Chongqing Ant Consumer Finance Co., Ltd. or the bank that provides the credit line and other institutions as the reporting entity, which will be included in the credit scoring system.

Public information shows that Ant Consumer Finance Co., Ltd., Ant Group's new Fintech company, was approved to launch on June 3 by the China Banking and Insurance Regulatory Commission (CBIRC), making it a licensed financial institution. And the virtual credit card product Huabei is also included in the new Fintech firm and is required to submit credit information to the central bank's credit scoring system like other licensed financial institutions.

In addition, in response to the rumors that the reporting of credit information to the central babk may affect bank lending," Huabei clarified that the normal use of Huabei and maintaining good usage and repayment habits will not lead to difficulties in obtaining loans.

Sources close to the matter have revealed that last year, Huabei began to gradually and orderly promote linking to the financial credit information base database or credit scoring system.