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The origin of the Social Credit System can be traced back to the early 1990s as part of attempts to develop personal banking and financial credit rating systems in China, and was inspired by Western commercial credit systems like FICO, Equifax, and TransUnion. [17]
China has a much lower rate of credit use than developed markets. [4]: 67 As a result, it lacks the associated credit reports. [4]: 67 Zhima Credit was introduced on 28 January 2015. It was the first credit agency in China to use a score system for individual users, using both online and offline information. [5]
One has to put it in the context of China's 1.4 billion population, and there are all sorts of problems to address. Reports of 'big brother' China social credit system untrue: AI expert Xue Lan ...
In 2019, the South China Morning Post reported that the Beijing Subway would also begin sorting passengers using facial recognition based on information pulled from the social credit system and criminal offending databases. Commuters who exhibited anti-social behavior or had previous bad credit scores would also be penalized under the system. [127]
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A credit score is a number that ... The credit scoring system in the United States is similar to the Social Credit System in China. ... start with credit scores".
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Further issues raised in regard to human rights include the severe lack of workers' rights (in particular the hukou system which restricts migrant labourers' freedom of movement), the absence of labour unions independent of the CCP, [6] [7] the implementation of Social Credit System and its blacklist, which serve to restrict a person and their ...