The second China Consumer Finance Forum was co-hosted by China Center for Financial Research (CCFR) and the Citi Foundation on December 29 in Tsinghua SEM. The focus of the forum was the credit card industry in China.

During the event, scholars and researchers reviewed the development of credit card in China, discussed existing problems and future model of profit. They also made practical suggestions concerning the increase of profits within the industry.

Among the special guests of the forum was TU Zhiyun, Chairman of Beijing Sino Credit Technologies, Inc., one of the main developers of FICO credit score system. In the keynote speech, TU Zhiyun explained problems in China’s credit card industry in terms of the profit model and cost control. Topics discussed over the forum included: market segmentation of credit card users, follow-up management of clients, risk evaluation and the function of credit cards as a linkage between the bank and its clients.

Professor LIAO Li, Associate Dean of Tsinghua SEM and Executive Vice Director of CCFR, commented on the importance of the credit card and other consumer financial products, saying they are highly significant for the positive expansion of domestic demands.

Professor LIAO Li also said, CCFR will maintain its cooperation with Citi Foundation, paying close attention to the development of the consumer finance issues in China, conducting proper analysis, trying to bring together the wisdom and resources of the academia, the industry, as well as the government.