The credit reporting system is helpf ul to solve the problem arising from l ack of personal credit in China.The China' s schedule of special commitments on services has two unfavorable impacts on domestic credit reporting industry in the long run:the economi c rent arising from lack of privacy pr otection.It is vital to make clear th e rights and obligations of the partie s in relevant laws and to promote comp etition in speeding up development o f credit reporting system.Laws and le galation should be adopted to protect the consumer' s right to privacy and pro-mote competition in credit reportin g industry.