According to CoinMeta, Zou Lan, the vice governor of the People's Bank of China, discussed the development and transformation of China's credit reporting industry at the 17th Caixin Summit. He pointed out that after years of development, there have been profound changes in the structure and hierarchy of China's financial market, particularly the credit market. In terms of overall volume, the process of monetization of the economy has basically concluded, and China has established the world's largest banking system and a leading inclusive finance system. The loan scale approaches 300 trillion yuan, and more than 800 million people in the credit reporting system have credit records. Excluding the elderly and children, the vast majority of people have had credit experiences. Zou Lan noted that currently, slowing down and improving the quality of credit has become the new normal of macroeconomic operations. The focus of financial development has shifted from incremental expansion to optimizing existing assets, and from scale-oriented approaches to more precise and targeted strategies. Technological innovation, green transformation, and support for small and micro enterprises are key areas and weak links in current financial services. Correspondingly, credit evaluation, credit reporting mechanisms, and risk control models are not yet well-developed, and the adaptability of the credit reporting system needs to be improved.