Aug 20, 2018

In China, your credit could depend on how often you visit your parents

HTML EMBED:
COPY

Few Chinese citizens have credit cards or any sort of credit history. But the country has started incorporating more credit into its economy and culture, and the government is working on a way to measure creditworthiness for both businesses and…

Segments From this episode

In China, your credit could depend on how often you visit your parents

Aug 20, 2018
The country is designing a credit score that factors in social behavior.
Justin Sullivan/Getty Images

Few Chinese citizens have credit cards or any sort of credit history. But the country has started incorporating more credit into its economy and culture, and the government is working on a way to measure creditworthiness for both businesses and individuals. Its plan? A social credit score. The idea is akin to the American FICO system in that it’s a financial record of whether you paid your bills or traffic tickets. But the Chinese government is also tracking social behaviors — like whether you jaywalk or refuse to visit your elderly parents — and it’s figuring out how to incorporate those into your score. Amy Choi talked with Marketplace China correspondent Jennifer Pak about how the process for calculating social credits is taking shape.  (08/20/18)

Listening makes you smarter…
donating makes it all possible.

Our mission is to raise the economic intelligence of the country, exploring the intersection of the economy, tech, and our daily lives. As a nonprofit news organization, we count on your support – now more than ever before.

Secure the future of public service journalism today when you become a Marketplace Investor.