China on track to set up second personal credit ratings agency backed by Xiaomi, JD Digits and Megvii

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China’s central bank is on track to set up the country’s second personal credit ratings agency, one that is backed by Xiaomi Corp, JD.com’s financial technology business and artificial intelligence unicorn Megvii.

The People‘s Bank of China (PBOC) said in a statement on December 4 that it had accepted the application of Pudao Credit Rating Co for such a licence and initiated a seven-day period to solicit public opinion, which concludes on December 10.

Beijing Financial Holdings Group, a company owned by the Beijing local government, will have a . . .

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