Beijing, February 14, 2012

CRIF’s know-how on the SME segment at the 7th EU-China Business Summit

Enrico Lodi, Managing Director of the CRIF Credit Bureau & CRIF Group board member, participated at the 7th EU-China Business Summit held in Beijing on February 14. The event focused on a new level of cooperation on various subjects, namely innovation, industry and investment, with a fantastic line-up of speakers, including Wen Jiabao, Prime Minister of the People’s Republic of China, Jose Manuel Barroso, European Commission President, and Herman Van Rompuy, President of the European Council. One of the highlights was the presentation given by Enrico Lodi on the role of SMEs in the finance market, where he underlined how reciprocal business rules between Europe and China could create win-win opportunities.

He showed that European countries typically base their economies on the SME segment, and consequently European companies, such as CRIF, have gained long-term experience in this field and succeeded in supporting banks and financial institutions during credit lifecycle management; from customer acquisition to loan underwriting, to portfolio management and debt collection. He concluded by saying that “Since the consumer credit market in China is growing rapidly and offers challenging opportunities for further development, Chinese financial institutions should focus more on the quality of credit rather than on volume, and try to reduce the time to market”.