In Chinese Hangzhou, citizens with a good credit history will be able to get deposit-free services

Beijing. Jul 20. Silkroadnews - Those residents of Hangzhou, Zhejiang Province, who have a good credit history, may be exempted from making deposits to receive a number of services, including bicycle rental and hotel booking, China Plus reports.
Last month, the application “Credit Hangzhou” was launched in the city, allowing people to easily check their own credit history records and look for services they can receive without deposits in case the credit score is high enough.
The authorities also promised to encourage the daily use of the application, so that credit ratings will become a “gold pass” in the city.
A representative of the Development and Reform Commission in Hangzhou said the focus will be made on travel, transport and housing to enable those who study, work and travel around the city, to avoid paying deposits.
At present Zhima Credit, a platform for credit scoring owned by Alibaba, has 7.28 million registered users in the city, among them 3.69 million people have the right to receive services without a deposit.
This means that one-third of Hangzhou’s residents can now enjoy services without deposits, with 14.3 billion yuan ($2.21 billion) in deposits waived.