Some problems in establishment of social credit system in China

Market economy is a contract economy or credit economy. However, the market economy in China is still in its initial developing stage, credit institution is not well established yet. Some discredit behaviors occurred in various fields. Thus it is imperative to set up the social credit system, which will directly work on reducing trade expenses, raising the market efficiency and promoting economic prosperity. In this paper some suggestions are proposed concerning how to fasten the work of legislation, how to strengthen the management and supervisory of credit industry, so as to set up the social credit system in a short time.