Legislation Regulation for Consumption Credit

Credit and law are the two pillars for the existence and development of market economy.Credit is a system including state credit,bank credit,commercial credit and consumption credit. Only a credit system based on state credit,with bank credit as the media, with a mutual-promotion between commercial credit and consumption credit,can play a positive role in economic growth.However,the current status of credit relations in our country is:the bank credit develops rapidly,state credit develops progressively,commercial credit develops abnormally,and consumption credit is restricted in its development.This unhealthy credit system has increasingly restricted our nation's economic development.Therefore,the legislation of consumption credit shall be expedited so as to standardize, guide and expand consumption credit with the ultimate purpose of perfecting our nation's credit system to promote the healthy and rapid development of our national economy.