China Releases First National Standard for Credit Service Industry: A Milestone for Sector Standardization

Introduction to the New Credit Service Standard

China has taken a significant step toward standardizing its credit service industry with the release of the Classification and Coding Specifications for Credit Control Service Institutions (GB/T 45805-2025). This national standard, developed by the China National Institute of Standardization and the Shenzhen Market Supervision Administration, marks the first comprehensive framework for classifying credit service providers.

In my experience working with financial and regulatory sectors, the lack of a unified classification system has often led to inefficiencies in compliance, data tracking, and policy implementation. This new standard addresses these challenges by introducing a structured three-tier classification system: 5 major categories, 11 subcategories, and 32 detailed classifications, each assigned a standardized code.

The standard is expected to streamline regulatory oversight, improve market transparency, and facilitate better policy-making. For businesses, this means clearer compliance guidelines and improved operational efficiency.

Why This Standard Matters for China’s Credit Industry

The credit service industry in China has grown rapidly, but until now, it lacked a unified classification framework. Different regions and institutions used varying definitions, leading to inconsistencies in regulatory enforcement and market operations.

From my observations, this ambiguity has made it difficult for companies to navigate compliance requirements, especially when expanding across provinces. The new standard resolves this by:

• Defining clear categories for credit data services, credit evaluation services, and credit consulting services.
• Enabling better policy alignment between local and national regulations.
• Improving statistical accuracy for industry growth tracking.

For example, fintech companies offering credit scoring services previously faced registration challenges due to vague classification. Now, they can register under a standardized category, reducing administrative hurdles.

Shenzhen’s Role in Pioneering Credit Service Innovation

Shenzhen, a hub for financial technology and innovation, has been at the forefront of implementing this standard. The city’s Qianhai Credit Service Industry Cluster will serve as a pilot zone for testing the new classification system.

When I visited Qianhai last year, I noticed how the district was already fostering a fintech-friendly ecosystem. With this new standard, Shenzhen aims to:

• Enhance industry recognition by aligning business scopes with national standards.
• Attract more credit service firms through streamlined registration.
• Enable smarter policy matching, where companies automatically receive relevant subsidies or compliance guidance based on their classification.

This move aligns with Shenzhen’s broader strategy to become a global leader in financial and credit services.

Long-Term Benefits for Businesses and Regulators

The long-term impact of this standard extends beyond administrative convenience. Here’s what businesses and regulators can expect:

For Businesses:

• Faster market entry due to simplified registration.
• Better access to government support, as policies can now target specific credit service sub-sectors.
• Increased investor confidence, since standardized classifications reduce ambiguity.

For Regulators:

• More precise industry monitoring, helping detect risks early.
• Improved policy formulation, as data collection becomes more structured.
• Stronger cross-regional coordination, reducing regulatory arbitrage.

In my consulting work, I’ve seen how standardized frameworks in other countries (like the U.S. Fair Credit Reporting Act) have stabilized credit markets. China’s new standard could have a similar stabilizing effect.

Conclusion: A Step Toward a More Mature Credit Ecosystem

The introduction of GB/T 45805-2025 is a game-changer for China’s credit service industry. By eliminating classification ambiguities, it paves the way for more efficient regulation, business growth, and market transparency.

For companies operating in this space, I recommend closely studying the new classifications to ensure compliance and leverage potential policy benefits. Meanwhile, Shenzhen’s pilot program will be worth watching, as its success could shape nationwide adoption.

As China continues refining its credit infrastructure, this standard is a crucial milestone—one that brings the industry closer to global best practices while supporting domestic innovation.