Category Archives: Translations

Memorandum of Understanding on the Joint Punishment of Subjects Who Seriously Breach Trust in the Financial Sector

Notice Issung the

Memorandum of Understanding on the Joint Punishment of Subjects Who Seriously Breach Trust in the Financial Sector

Development and Reform Commission Document no. 454 [2017]

In order to implement the spirit of the 18th Party Congress, and of the 3rd, 4th, 5th, 6th Plenums, to implement the requirements of the ‘State Council Opinions on Promoting Fair Competition and Safeguarding the Normal Order of the Market’ (State Council Document no. 20 [2013]) of the ‘State Council Notice Issuing the Planning Outline on the Construction of a Social Credit System (2014-2020)’ (State Council Document no. 21 [2014]) and the general requirements of “praising integrity, punishing breaches of trust”, promoting sharing and integration of big data, innovating and driving a sound social credit system, in accordance with stipulations of the ‘Notice on the Work of Strengthening Supervision and Management on the List of Persons who Severely Breach Trust in the Field of Finance’, the national Development and Reform Commission, the People’s Bank of China, the CBRC, the CSRC, the CIRC, the Supreme People’s Court, the Central Propaganda Department, the Public Sector Reforms Commission, the Central Spiritual Civilization Office, the Cyberspace Administration, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Human Resources and Social Security, the Ministry of Commerce, SASAC, the General Administration of Customs, the General Administration of Taxation, SAIC, AQSIQ, The Department of Foreign Exchange and other departments have reached the following unanimous opinion:

9 March 2017

Annex: Memorandum of Understanding on the Joint Punishment of Subjects Who Seriously Breach Trust in the Financial Sector

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Memorandum of Understanding on the Joint Punishment of Subjects who Breach Trust in the Field of Real Estate

Notice of the National Development and Reform Commission Issuing the

Memorandum of Understanding on the Joint Punishment of Subjects who Breach Trust in the Field of Real Estate

Development and Reform Commission Document no. 1206 (2017)

To all provinces, autonomous regions, municipalities directly controlled by the central government, and related departments and institutions of the Xinjiang Production and Construction Corps:

In order to implement the spirit of the 18th Party Congress, and of the 3rd, 4th, 5th, 6th Plenums, to implement the requirements of the ‘State Council Notice Issuing the Planning Outline on the Construction of a Social Credit System (2014-2020), the ‘State Council Guiding Opinion on Establishing a system of joint rewards for those who keep trust and a system of joint punishment for those who breach trust and accelerating the construction of a social integrity system’, and the ‘State Council Opinions on accelerating nurturing and development of the housing market’ (Guofa [2016] no. 39), focus on cultivating and carrying forward socialist core values, accelerate the construction of a social credit system, establish and perfect a joint punishment mechanism for those who breach trust, establish a sound inter-departmental joint punishment mechanism, promote a business conduct of lawfulness and integrity among relevant subjects on in the field of real estate, the National Development and Reform Commission, the People’s Bank of China, The Ministry for Housing and Urban and Rural Construction, the Central Organization Department, the Central Propaganda Department, the Public Sector Reform Commission, the Central Spiritual Civilization Office, the Cyberspace Administration, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Human Resources and Social Security, the Ministry of Land Resources, the Ministry of Environmental Protection, the Ministry of Transportation, the Ministry of Water Resources, the Ministry of Commerce, SASAC, the General Administration of Customs, the General Administration of Taxation, AQSIQ, GSS, CBRC, CSRC, CIRC, the Civil Service Bureau, the Civil Aviation Bureau, the National Federation of Trade Unions, the Central Committee of the Communist Youth League, the National Women’s Federation and the Railway Corporation have signed the Memorandum of Understanding on the Joint Punishment of Subjects who Breach Trust in the Field of Real Estate.The Memorandum of Understanding is hereby issued to you, please diligently implement it.

Annex: Memorandum of Understanding on the Joint Punishment of Subjects who Breach Trust in the Field of Real Estate

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National Financial Work Conference Sends an Important Signal – The Construction of a Social Credit System Must Be Strengthened

This is the full text translation of an article originally published on the Xinhua website, with the title ‘Deepen Financial Reform, Promote the Healthy Development of an Economic and Financial Virtuous Circle’ (here) immediately after the July 14-15 National Financial Work Conference, and reposted on the Hubei Credit website with a slightly different title. The article is useful to get a sense of the reform measures China intends to adopt in the financial sector, and of their rationale.

National Financial Work Conference Sends an Important Signal

The Construction of a Social Credit System Must Be Strengthened

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Provisional Regulations on Enterprise Information Publicity

Decree no. 654

of the State Council of the People’s Republic of China

  

The “Provisional Regulations on Enterprise Information Publicity” have been adopted by the 57th Meeting of the Standing Committee of State Council on 23rd July 2014 and are hereby issued, and will go into effect on 1st October 2014

                            Premier Li Keqiang
August 7th, 2014

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Ministry of Civil Affairs General Office Notice on Comprehensively Pushing Forward Matters Relevant to the Unified Social Credit Number For Social Organizations

Ministry of Civil Affairs Letter No. 84 (2017)

To the civil affairs departments (bureaus) of all provinces, autonomous regions, municipalities, to the civil affairs bureau of the Xinjiang Construction and Construction Corps, and to all national level social organizations:

In order to complete the State Council system on the nation-wide attribution of a National Unified Social Credit Number by the end of 2017; promote the task of integrating multiple licences; realize the nation-wide conversion of a unified social credit number (hereinafter “unified number”) for social organizations at all levels, it is hereby notified as follows:

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Explaining the Unified Social Credit Number System

The following article appeared on the theory column of the People’s Daily two years ago. It provides an official policy interpretation of the unified social credit number system – the 18-digits code attributed to enterprises, and social organizations. This official intepretation of an existing policy prevails on any other possible policy interpretation by Western interpreters. The reasons why official Chinese policy interpretations of any given policy document are weightier than Western policy interpretations of the same document have been amply explained in a presentation I delivered at the 2016 edition of the European China Law Studies Association Conference. The paper can be accessed free of charge here.

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The Meaning and Extension of ‘Social Credit System’

The following article first appeared on the official website of the State Council – China’s supreme organ of administrative power – among the  official articles and commentaries published shorty after the adoption of the Planning Outline on the Construction of a Social Credit System (2014 – 2020). Its author, Han Jiaping, is the Director of the Ministry of Commerce Research Centre on Credit and Electronic Commerce. The original version of the essay can be found here. The essay is useful for a general understanding of what social credit in China is.

The Meaning and Extension of ‘Social Credit System’

Han Jiaping

The “Outline”1 adopts a broad definition of the meaning and the extension. 2 of social credit system in our country. This is very consistent with the reality of the construction of credit in China at the moment. It not only embodies the understanding of the concept of credit since ancient times, it also reflects the basic characteristics of the problems of social credit in China at this stage, it is a scientific assertion. Read More

Measures for the Use and Operation of the National Enterprise Credit Information Publicity System (For Trial Implementation)

Notice of the State Administration for Industry and Commerce Issuing the Measures for the Use and Operation of the National Enterprise Credit Information Publicity System (For Trial Implementation)

Gongshan Banzi (2017) No. 104

To all provinces, autonomous regions, municipalities, and municipal administrations for industry and commerce, market supervision and management departments:

  In order to standardize the use, operation and management of the National Enterprise Credit Information Publicity System, give full play to its role in serving the public and strengthening the post facto supervision, in order to promote the construction of a Social Credit System, on the basis of extensive research and in-depth analysis, the State Administration drafted the “Measures for the Use and Operation of the National Enterprise Credit Information Publicity System (For Trial Implementation)”, herewith issued, please comply with its implementation.

State Administration for Industry and Commerce

June 27, 2017

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Reply of the State Council Agreeing to Adjusting the Responsibilities and Member Units of the Inter-Ministerial Joint Conference on the Construction of a Social Credit System

Editor’s Note:  While useful for academic analyses, the English version of the document presented below is not legally valid before Chinese courts, and administrative agencies. Readers interested in the official version of this document are encouraged to consult the official website of the People’s Bank of China, where this Reply was first posted.

This translation is offered ‘as it is’, and for reference only.  All rights on this work belong to the Foundation for Law and International Affairs and to The Coalition for Peace and Ethics. Reproduction of this work is not allowed in any form without prior written consent.  Please consult this Blog’s Terms and Conditions.

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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

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