The social credit system, serving as a framework on which the government, enterprise and consumer credit systems are built, is a fundamental tool of putting in order the chronic chaos in the economic operation as well as a safety guarantee for the introduction of credit transaction and credit instruments in the market. Since it first put forward the concept of social credit system and its design framework in 1999, in the past ten years China has carved out a new path of constructing an effective credit reporting system through which China obtained lots of applicable experience and avoided certain unsuccessful steps experienced by some developing countries and has made a significant progress. A white paper introduces the theoretical pattern of China’s construction of its social credit system and summarizes nine major achievements of this endeavor. It also makes a brief analysis on trend of social credit system construction that is regarded now as a national policy in China and highlights a number of aspects where more efforts are required for this purpose.
The writer of the white paper is Lin Junyue, Vice Chairman, the Academic Committee of China Marketing Association and the Chairman of its branch of Market Credit Academic council; Chairman of the Academic Committee of Credit Management Professionals, Occupation Skill Testing Authority, Ministry of Ministry of Human Resources and Social Security of China. To read the full White Paper click on the link: BIIA INDUSTRY LIBRARY