By staff reporter Shen Hu

The central bank’s credit information center has moved to Shanghai, giving China’s largest city a new boost in its effort to become a hub for international finance.

At an opening ceremony May 9, the bank’s Shanghai director Su Ning said the center’s relocation from Beijing will boost Shanghai’s pursuit of global recognition in the finance industry.

The information center is responsible for collecting credit data about Chinese firms and individuals. Center Director Dai Genyou said it was initially launched in Beijing in 2004 near the headquarters of state-owned commercial banks as well as the central bank. However, since then, banks have moved their credit centers to Shanghai, prompting the central bank to follow suit.

Dai told Caijing the new center in the city’s Zhang Jiang district has a staff of 150 and will recruit another 50 this year. According to the central bank, the center is cooperating with 912 financial institutions and has gathered credit data from 1.4 million firms and organizations, as well as 600 million individuals.