Integrity Is The Strongest Soft Power. Experts Call For Completing An Integrity Mechanism Effective Over The Long Term

Editor’s Note: What follows is the translation of an article that appeared on the July 8 issue of the daily newspaper China Times (华夏时报 Huaxia Shibao). This translation is provided for reference only. You are welcome to modify it, and use it on any electronic or paper medium of information, on condition you include a link to the present post.


Integrity Is The Strongest Soft Power.

Experts Call For Completing An Integrity Mechanism Effective Over The Long Term

Wang Xiaohu

Huaxia Shibao, 8 July 2017

Mencius said: “Sincerity, the Way of Heaven. Thinking about sincerity is the Way of man.” Credit is the core driving force of the development of a market economy, and in a modern market economy, the establishment and perfection of the Social Credit System is one of the important signs that our socialist market economy is becoming mature.

“Integrity is the important civilization of the great history of the Chinese nation. The Market economy itself is a credit economy, and the socialist market economy should reach a higher level. [Integrity] is a system whereby the public yearns for fairness and justice, so we should implement credit into our system, our work, and everyone’s behavior.”

On July 8, Fan Hengshan, the Deputy Secretary-General of the National Development and Reform Commission, during the 2017 China Credit Forum made suggestions about three aspects of promoting the construction of China’s social credit system: doing a good work of constructing the social credit system, improving the construction of the legal system, and improving the regulatory system, from grasping the key aspects of construction.

At present, the construction of China’s credit system needs to focus on national key areas, mainly the allocation of important resources, the financial sector, the fields of state and national security, and the IT field.

Thanks to the development of our country’s economy and the rise of its international status, as well as the guidance of the ‘One Belt One Road’ strategy, innovation and entrepreneurship are continuously deepening, and more and more enterprises in China and abroad are participating in market competition. Therefore, we can guide enterprises to understand the important role credit plays, under the new circumstances, for enterprise themselves, and for the development of the entire society.

Therefore, Li Runliang, vice president of the National Information Center, said that honesty is the key link in the construction of a Social Credit System, and that the government is the core of promoting urban construction. In June 2015, the National Development and Reform Commission and the National Information Center  jointly carried out the monitoring and evaluation of urban credit. Speaking about experience, he said that the Government’s concern is an important link in the construction of urban credit, which indicates the direction to further promote the construction of a credit system, exposes the credit problems of urban areas, and can force the government to strengthen the restriction on market participants, increase the cost of breaking the law and encourage the exploration of a system with credit as the core.

Modern competition among enterprises is not only a competition of technology and human resources, it is also a competition in credit. Honesty is not only a moral norm, but also a market rule. Integrity is not only the foundation of the enterprise, but also the accelerator of enterprise development. In an enterprise, integrity is the most complete aspect, from the entrepreneurial spirit to the service level, it can reflect the integrity of an enterprise all around.

For a country, credit is an important part of national development, but also an important yardstick.” Competition between countries is a competition of comprehensive strength. Credit is a country’s strongest soft power, but also an effective mean of competition. Big countries should have great powers of thinking. Under the New Normal, we need to strengthen the idea of the great concept of credit, in order to give play to China’s faith in global governance, and become a powerful lever.”  National Development and Reform Commission Macroeconomic Management Editorial Board’s Director Ren Wangbing said.

At the meeting, several experts said that credit is a law of production, of core competitiveness, and it is also the source of enterprises’ existence, security, and fate. It not only brings benefits. At the same time, it represents the spirit of enterprises, it is a cultural brand image. Overall, enterprises integrity is not only related to enterprises’ existence and development, but also to social and economic development, and to the interest of the People’s Masses. Its importance is great. The transformation from the mechanism of enterprise competition to the mechanism of competition on credit is also a complex social project. It needs the joint efforts of the Government, each aspect of business and its systems and mechanisms, the law, and even the entire society, in order to establish a social credit mechanism effective for a long time.

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