Only eight days before the 19th Congress of the Chinese Communist Party, the People’s Daily has published an article extolling the virtues of a little known (until today) public project that has been going on in Jiangxi Province.
The project involves the creation of a credit platform managed by local Party organs, the judiciary, banking supervision organs, and the media.
To promote the nation-wide adoption of this platform, the Central Propaganda Department, the SPC, CRBC have issued a notice on ‘Creating and Improving a Platform to Expose Persons Subject to Enforcement for Breaches of Trust’. At the moment of writing the full text of the Notice does not yet seem to be available.
Given the timing of its announcement, this is an important development. The article follows. More comments will be posted once the full text of the Notice becomes available.
Central Propaganda Department, Supreme People’s Court, China’s Banking Regulatory Commission Notice Require to
Create and Improve a Platform to Expose Persons Subject to Enforcement for Breaches of Trust
People’s Daily (October 11, 2017)
Xinhua News Agency, Beijing, October 10 (Journalist: Luo Sha) The Propaganda Department of the Central Committee of the CCP, the Supreme People’s Court, China’s Banking Regulatory Commission have recently issued a joint notice on the creation and improvement of a platform to expose persons subject to enforcement for breaches of trust.
The notice requests all areas and all relevant departments to learn from the experience of Jiangxi of “A law-media-bank platform to expose persons subject to enforcement for breaches of trust”, and fully realize the major importance of creating and improving a platform to expose persons subject to enforcement for breaches of trust, carrying out the development of this work, and guaranteeing its effective results.
By the end of 2017 all relevant departments must complete the construction of a provincial platform to expose persons subject to enforcement for breaches of trust, and within two years the platform shall become a well-known local credit platform, and an enforcement credential. Units at the city and county level, where the conditions exist, must also explore the construction of a platform to expose persons subject to enforcement at their own administrative level. Punishing those who breach trust and praising those who maintain trust must be upheld as the core. Full play shall be given to inquiries about the list of persons subject to enforcement for breaches of trust through the exposure platform, to the exposure of information about persons subject to enforcement for breaching trust, to publicity about credit punishment, risk management and other several functions, until the platform becomes an important starting point for the punishment of persons subject to enforcement for breaches of trust, and an important means for the masses to understand, participate to and supervise the work of enforcement.
It is to be pointed out that the Party’s propaganda departments at all levels must actively organize and coordinate major local media units to research and develop the platform system, to maintain relevant function blocks, and conduct an all-round, deep media propaganda. People’s Courts must actively promote the creation and development of the platform, and provide the initial database on persons subject to enforcement for breaching trust, as well as relevant data and information. The CBRC must strongly support the creation and development of the platform, strongly promote the use of the platform, and guide banking and financial institutions to insert information about persons and units subject to enforcement for breaches of trust in their credit approval system, and use it as a factor to be cautiously considered in the approval of credit financing.All concerned departments must rely on the leadership of Party committees and governments, and promote a fast construction of platforms by other units, and to include information about persons subject to enforcement for breaches of trust in their department’s administrative, approval, work systems, and automate comparison, capture, supervision, and punishment, to effectively develop the platform’s discipline and deterrence of breaches of trust.
The notice stresses that relevant departments must strengthen their division of labor, and under the leadership of Party committees’ propaganda departments, they shall establish smooth and effective communication and connection mechanisms, and a long-term and stable cooperation mechanisms, clarify their respective responsibility, strengthen day to day regulation and management, ensure a rapid creation and stable development of the platform.