China will build a "five in one" industry credit system

On the 18th, it was learned from the Ministry of Commerce that the Ministry of Commerce and the State-owned Assets Supervision and Administration Commission jointly issued the "Opinions on Further Completing Industry Credit Evaluation Work" in recent days, proposing to speed up the establishment of industry associations and chambers of commerce, third-party agencies, member companies, government guidance, and society. Supervise and coordinate the overall goal of the "five in one" industry credit system.
The "Opinions" were jointly issued and issued by the Credit Work Office of the Ministry of Commerce and the Association Office of the SASAC Trade Association. They are an important measure for implementing the "Outline for the Construction of a Social Credit System (2014-2020)."
The "Opinions" pointed out that the chambers of commerce associations should play a leading role in the industry's credit management, constantly improve the industry's credit supervision system, and build a trade credit management platform. While innovating the industry credit evaluation model and exploring market-based credit services, it is necessary to correctly handle the relationship between benefits and benefits in evaluation services.
Third-party credit service agencies should give full play to the supporting role of industry credit evaluation work. Member companies should attach great importance to and actively participate in industry credit evaluation work. Industry association chambers of commerce, third-party credit service agencies and member companies should actively accept social supervision in the industry credit evaluation work.
According to the “Opinions”, once the Association Chamber of Commerce that has violated the rules and regulations and the Grade A or above record-keeping enterprise are found, they will cancel their respective qualifications and credit ratings, and enter the blacklist of “Corporate Credit Information Database of the Ministry of Commerce Business Area”. The result of the credit evaluation of the association's chamber of commerce and record companies will be publicized in the “Industrial Credit Rating and Record Management” system of the Ministry of Commerce ( and the China Market Order Online.
It is understood that since 2005, the Ministry of Commerce and the State-owned Assets Supervision and Administration Commission have jointly guided the development of industry credit evaluation. At present, 207 national trade associations have participated in this work, and more than 10,000 A-level or above credit companies have been selected, covering agriculture, machinery, electronics, petrochemicals, power, water conservancy, construction, medicine, domestic and foreign trade, etc. Most of the national economy industry and fields.
In the next step, the Ministry of Commerce and the State-owned Assets Supervision and Administration Commission will continue to strengthen guidance and actively promote the practical application of industry credit evaluation results in areas such as administrative licensing, qualification recognition, government procurement, bidding, and policy support.

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