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.
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.