Core Viewpoint - Qiantang Credit has been designated as a public data authorization operator in the credit service sector in Zhejiang Province, marking a significant step in exploring the "personal credit economy" and unlocking the value of data elements [1] Group 1: Company Overview - Qiantang Credit aims to create a digital credit profile for individuals based on user authorization, utilizing credit evaluation and reporting tools to enhance personal credit value recognition and self-management capabilities [1] - The company is positioned as a licensed personal credit institution in China, potentially serving as a replicable model for personal credit data circulation [1] Group 2: Market Context - The personal credit economy is defined as an emerging economic form centered around personal credit data, providing new credit services to individuals, financial institutions, and businesses [1] - Qiantang Credit plans to implement its services in various scenarios such as credit services, flexible employment, and grassroots governance, aiming to reduce information asymmetry and transaction costs [2] Group 3: Comparative Analysis - The model of Qiantang Credit bears similarities to South Korea's MyData service, which allows individuals to control their data and apply it across various management scenarios [2] - South Korea's MyData service has seen significant adoption, with over 50 million users and revenue reaching 2.5 trillion KRW (approximately 13 billion RMB) in 2023 [2] Group 4: Data Integration - Qiantang Credit has integrated nearly a hundred compliant commercial data sources, showcasing a new development in the fusion of public and commercial data in the data element sector [3] - The demand for personal credit management services based on public data is substantial, given the higher level of digital governance and public data infrastructure in China compared to South Korea [3]

Core Insights - Qiantang Credit has been designated as the public data authorized operator in the credit service sector in Zhejiang Province, aiming to create the first trustworthy data space for individuals in China [1][2] - The initiative represents an exploration of the "personal credit economy," which focuses on the circulation of personal credit data and aims to provide new economic services based on credit for individuals, financial institutions, and businesses [1] - The construction of the trustworthy data space will enable the creation of digital credit profiles for users, enhancing their ability to connect with financial, commercial, and social services [1] Group 1 - Qiantang Credit will implement its services in various fields such as credit services, flexible employment, and grassroots governance, aiming to reduce information asymmetry and transaction costs [2] - The integration of public and commercial data sources is expected to improve risk management capabilities for institutions and provide better opportunities and services for consumers [2] - Qiantang Credit has already connected with nearly 100 compliant commercial data sources, showcasing a new development in the fusion of public and commercial data [2]