Xiaoning Cao, Chairman of the Board, Huaxia Credit
Grab a latte and pull up a chair and join us for a great interview with Xiaoning Cao, Chairman of the Board, Huaxia Credit and Chairman of Huaxia D&B China.
Before joining the background screening industry, Xiaoning was a member of the “China Think Tank” during the time period in the early 80’s when Mr. Deng Xiaoping was directing China through structural reform. Xiaoning successively served at the Rural Policy Research Office of the Secretariat of CPC, State Committee for Economic Structure Reform and Ministry of Commerce. His positions included serving as the Vice Division Head, Division Head and Deputy Bureau Director from 1982 to 1993. In 1988 and 1989 he had the privilege of becoming a visiting scholar with the University of Chicago.
In 1993, after resigning form the government, during the time when China’s economic regime was gradually transforming from centrally planned to free market economy. He recognized that there was an urgent market need for a credit reporting agency and then established Huaxia Credit.
In conversations with the former president of CDIA, Mr. Barry Connelly, Xiaoning was
convinced of the need for a background screening firm in China. On the infamous day of Sep.11 of 2001, he was on route to the U.S. to learn more about the background screening business and the terrorist attack occurred. This horrific event strengthened his determination to start the background check business. Huaxia Credit became the first background check company in China. ChoicePoint was their first partner.
Speaking about something he really enjoys about working in the background screening industry he note that he particularly enjoys providing advice to the Chinese government regarding setting up a fair and legally binding business environment, which is essential for the CRA industry to operate and develop.
Huaxia Credit is currently the largest credit information provider in China, owning five business lines: business and consumer Credit Reporting, Collection, Direct Marketing and Education. In 2006,Huaxia Credit and Dun & Bradstreet jointly established Huaxia D&B China, and the following year, Huaxia Credit formed a joint venture, HUAXIACRIF with CRIF.
Xiaoning stated a primary focus of firm is to continue to provide leadership in China’s Information Industry. Future plans include inserting Huaxia D&B information into their background check report. He explained that adding this information to the report will aid U.S. firms that may have little knowledge of Chinese companies. For example, If a Chinese applicant applies for job in the US and indicates that he was the CEO of a Chinese company, the American employer may not be familiar with the company, thus the ability to provide information such as the company size, location, year established will be important.
He also added that as China’s premier background checking provider, Huaxia Credit will continue to provide superb products and service to their domestic and global clients.
Xiaoning shared that Huaxia Credit is a Chinese company that has joint venture companies with both American and Italy companies. He emphasized that the company not only respects Chinese regulations, but also the American and the Italian Law as it serves its multinational and global clients. He referenced the new Regulation on the Administration of Credit Reporting Industry (Abbr. Regulation) which includes new rules governing consumer credit reporting agencies and strictly protects privacy.
He pondered when asked about the future he sees for the background screening industry and said, “I don’t need to look into a crystal ball to see it, since I open my eyes every morning and finding the world rapidly transforming.” He added that he believes the background screening industry will need to use more business credit information.
Xiaoning added that he is an avid reader and reads at least two books per month. A recent book he read is Liar’s Poker. He has a keen interest in economic, management and history. Speaking of history, the person he would most like to meet is President George Washington. Xiaoning noted that he admired that after serving as the nation’s first President and creating the United State, Washington returned to the country side to work as a peasant. He really respects his view of life.
Closing a very successful interview Xiaoning share his favor quote, “If you can do today, please do not put it into tomorrow.”
Thank you Xiaoning for a very insightful and informative interview. To find out more about Huaxia Credit, Xiaoning can be reached at firstname.lastname@example.org.
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