According to official website who inquired about the auction loan, the auction loan was established in June 2007, and the full name of the company is "Shanghai Auction Loan Financial Information Service Co., Ltd.". With the development of the Internet and the improvement of China's personal credit system, advanced ideas and innovative technologies will bring about historic changes in private lending, and the loan auction will be the leader of this change. 2065438+June 2007, the fund depository system of Paipai Loan and China Merchants Bank was officially launched.