Tag Archives: compliance

Social Credit and the CCP 19th Congress (3): Tightening the Screw on Corporate Compliance?

A further, interesting development in the run-up to the 19th Congress of the CCP took place with the publication on the People’s Daily of a document adopted on September 8.

The document is entitled “Opinions of the CCP Central Committee and of the State Council on constructing an environment for the healthy growth of entrepreneurs, promoting the spirit of outstanding entrepreneurs and better developing the role of entrepreneurs.”

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Changes in Social Credit and the 19th CCP Congress (1)

While the 19th Congress of the CCP is less than a month away, a debate tracing the possible future trajectories of social credit has already started, and it is focussing on local legislation.

This far, local legislation on social credit has been adopted by Shanghai Municipality, by Hubei, Hebei, Zhejiang, Shaanxi Province, and Shenzhen. While each one of these pieces of legislation is important in its own respect, the Shanghai social credit regulations play a unique role in driving change in social credit. The first Chinese city to introduce a credit rating system, since 2000 Shanghai has been shaping national trends in social credit.

Comments on the Shanghai social credit regulations – which went into effect yesterday – have been produced by Professor Lin Yu (Shanghai Academy of Social Sciences), and published on the latest issue of The Monthly Magazine of Shanghai People’s Congress (Shanghai Renda Yuekan). To enable readers to form an independent opinion on ongoing trends, the full translation of the article is available below. The original article can be found here.

The article provides a window into a little-known domestic debate on social credit. It lets all those with a stake in social credit understand how social credit is on the brink of change.

Change is always dense with possibilities. At the moment, there are signs that “social credit” may be morphing into a more sophisticated policy, designed to govern economic actors through big data management. While it is not possible to predict what shape and direction this process will take, one thing is certain.

Only those with the knowledge and skills needed to read and comprehend the ‘signals’ coming from within China will be able to understand possible future impacts on their activities, and on their rating. Ignoring upcoming changes or dismissing them as meaningless will entail significant risks.

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Opinions on Constructing an Environment for the Healthy Growth of Entrepreneurs

中共中央 国务院关于营造企业家健康成长环境弘扬优秀企业家精神更好发挥企业家作用的意见

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企业家是经济活动的重要主体。改革开放以来,一大批优秀企业家在市场竞争中迅速成长,一大批具有核心竞争力的企业不断涌现,为积累社会财富、创造就业岗位、促进经济社会发展、增强综合国力作出了重要贡献。营造企业家健康成长环境,弘扬优秀企业家精神,更好发挥企业家作用,对深化供给侧结构性改革、激发市场活力、实现经济社会持续健康发展具有重要意义。为此,提出以下意见。

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