China's top economic planner - National Development and Reform Commission (NDRC) has nodded the credit reference center of the People's Bank of China (PBOC) to cut service charges.
From Friday, an individual can enjoy two times of free inquiry for his own credit report at counters of the center and pay for 10 yuan, down from 25 yuan now, each time from the third time of his inquiry within a year.
For an institution, it needs to pay 60 yuan, down from the current 100 yuan, from the third time within a year for inquiring each copy of a business' credit report and five yuan, down from six yuan at present, for inquiring each individual credit report. Also, other service charge rules inconsistent with the new standards will be abolished.
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