This app is also created: Shows you if you have a debt near at hand

Chinese authorities have developed an app that tells people if they're close to someone in debt.

The state paper “China Daily” reported that officials in the Chinese province of Hebei developed the app, called “The Map of exhausted debtors”, where people can access via the EeChat social media app.

The application warns users with a flash when they are within 500 meters of someone in debt, the newspaper said, broadcasts IndexOnline.

The application also shows the exact location of the debtor, even though it is not clear if it shows any personal information.

Aiming for citizens to keep an eye on people in debt, it is not clear yet if it shows how much the person owes.

In Chinese culture, savings are traditionally preferred than expenses with debts considered taboo.

The application comes when China is referring radically to lending with reforms of its credit system.

The argument for a social credit system is that many people in China still do not have formal access to traditional banks.

So they need an alternative system to assess if they can pay loansTo rent houses or even send their children to school.