Not to mention their attempts to justify it while providing exactly zero justification for why they are using proxies that are completely irrelevant to their ability to pay when they already have a shadow banking system. The character judgements are a downright primitive basis for lending - the kind that lead to duels over credit rating essentially until financial institutions replaced them.

The real why is as obvious as why they don't like it when people bring up June 4th, 1988 Tiananmen Square or disparage Mao despite the divorce from his policies - it is about control and everything else is just an excuse.