Tag Archives: Financial Sector

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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