Hangzhou Launches Sesame Credit-based Online Smart Housing Rental Platform

ChinaNews, 9/29/17

The city of Hangzhou has begun trial operation of a housing rental monitoring and services platform that combines the management system of the "Hangzhou Second-hand Housing Trading Oversight Services Platform" and an evaluation system covering multiple dimensions at multiple stages from before, during, and after rental. The evaluation system was developed by Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA), whose financial services affiliate Ant Financial's credit rating service Sesame Credit is providing support for a user credit system. Landlords with good credit ratings will be more popular, and tenants with good credit can possibly avoid the rental deposit or even pay rent monthly.

The platform uses technology for real-name identity and facial recognition to guarantee the veracity of the agent, landlord, and tenants. The platform also provides each party with records of rental agreement, residence permit processing, and claims for public accommodation assistance.

The platform is available through official website and mobile app.

Keywords: long-term housing rental credit rating Internet Alibaba Group financial services BABA Sesame Credit Ant Financial Group consumer credit

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