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China Strengthens Social Credit System with 23 New Guidelines


Photo by FMT
Photo by FMT

Summary


  • China unveils 23 new guidelines to strengthen its social credit system, expanding its reach to include government agencies and enterprises.

  • The guidelines introduce a "seriously discredited entities" list, where companies on the list could face restrictions on issuing stocks and bonds.

  • The move aims to enhance market competitiveness, improve transparency, and ensure a fairer environment for economic activities.


 

China has further solidified its decade-long social credit initiative with the introduction of 23 new guidelines that will expand its scope and enforce stricter credit measures. The guidelines, issued by the State Council, are designed to improve market fairness and create a more orderly competitive environment. These updates mark a significant evolution in China’s social credit system, which was first outlined in 2014.

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