Credit problems in e-business and counter-measures

Credit system is the basic norm for any business activities. It plays more important role in e-business transactions. Because of many realistic problems, credit crisis is very serious in Chinese e-business industry.

In recent years, e-commerce has emerged in the global foreign trade business, involving in many sectors in the society. Viewing back on e-business development history, the first online business retail transaction was completed in Netmarketing Corporation in August in 1994.

It only experienced ten years; e-commerce went through the first stage when IT and media integrated as the mainstay from 1997 to 1998. It also went through the second stage when e-commerce service provider was the mainstay; then it also went through the third stage when the enterprises were the mainstay in e-business after 2001. E-commerce became more and more mature.

In the development history, there are many problems, such as bogus transaction, counterfeiting products, contract frauds, online bidding for higher price which is not reasonable, or impairing rights and interest of consumers.

These problems hindered e-business development, if we do not change the situation, we may lose some market shares or competitiveness.

So solving the credit problem through different means and establishing e-commerce credit management system to build up a good credit environment for e-business development is very helpful for Chinese e-business development.

IBUonline is a B2B business platform. IBU also welcome credit system construction and try to avoid frauds cases on the portal. If you have interest, please visit IBUonline homepage.