Online lending financial institutions established with the approval of relevant regulatory authorities, which engage in credit investigation business and related activities within the territory of China, will conduct credit investigation at the meeting. If the borrower fails to repay the loan after borrowing from a financial institution, the lending institution may record or declare relevant credit information according to law.

legal ground

Article 2 of the Regulations on the Administration of Credit Information Industry

These Regulations shall apply to the credit investigation business and related activities in China.

The term "credit business" as mentioned in these Regulations refers to the activities of collecting, sorting, saving and processing the credit information of enterprises, institutions and other organizations (hereinafter referred to as enterprises) and individuals, and providing them to information users.

The provisions of Chapter V of these Regulations shall apply to the collection, collation, preservation, processing and provision of information in the basic database of financial credit information established by the state.

These Regulations do not apply to the collection, collation, preservation, processing and publication of enterprise and personal information by state organs and organizations authorized by laws and regulations to manage public affairs in accordance with laws, administrative regulations and the provisions of the State Council.

Article 21

Credit information agencies can collect enterprise information through information subjects, corporate counterparties, industry associations, information disclosed by relevant government departments according to law, and judgments and rulings published by people's courts according to law.

Credit institutions shall not collect enterprise information prohibited by laws and administrative regulations.