State Council General Office Some Opinions concerning the Construction of a Social Credit System

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GBF No. (2007)17

All provincial, autonomous region and municipal People’s Governments, all State Council ministries and commissions, all directly subordinate bodies:

In order to accelerate the construction of our country’s social credit system, further perfect the Socialist market economy system, and build a Socialist harmonious society with the agreement of the State Council, the following Opinions are hereby put forward:

I, The importance and urgency of accelerating the construction of the social credit system

The market economy is a credit economy. The social credit system is an important structural arrangement in the market economic system. The Party Centre and the State Council give high regard to social credit system construction work. The 16th Party Congress and the 3rd Plenum of the 16th Party Congress have clarified the orientation and objectives for the construction of the social credit system. Our country’s “11th Five-Year Plan” put forward to accelerate the construction of the social credit system with a focus on perfecting credit records concerning credit, tax payments, honouring of contracts and product quality. The national financial work conference convened in 2007 further put forward to comprehensively move forward the construction of the social credit system with a focus on the construction of a credit information system, and to accelerate the establishment of a basic framework and operational mechanisms for an social credit system that is suited to our country’s economic and social development level.

Constructing the social credit system is an objective requirement to perfect our country’s socialist market economy system, and is a fundamental policy in rectifying and standardizing the market economy order. At present, malicious arrears and fleeing bank debts, swindling and evading taxes, commercial fraud, production and sale of counterfeit goods, illegal fundraising and other such phenomena cannot be stopped despite repeated bans, the acceleration of the construction of the social credit system will be of great real importance in attacking acts of promise-breaking, preventing and dissolving financial risks, stimulating financial stability and development, safeguarding the regular social and economic order, protecting the masses’ rights and interests, ensuring that government can ever better exercise its role in economic adjustment, market supervision, social management and public service.

In the past few years, a number of departments and regions have successively launched many kinds of trials for the construction of a social credit system. Generally, our country’s social credit system construction has seen certain progress, but many problems that need to be urgently resolved, remain. In the face of new trends, the tasks in constructing the social credit system are arduous and time is pressing, we must further unify thoughts, clarify tasks, strengthen coordination, and ensure that the construction of the social credit system can be implemented smoothly.

II, Guiding ideology, objectives and principles in constructing the social credit system

In constructing the social credit system, we must take Deng Xiaoping Theory and the important “Three Represents” thoughts guidance, firmly establish and comprehensively implement the scientific development view, take the legal system as a basis, the credit structure as core, and focus on completing credit records concerning borrowing, tax payments, contract implementation and product quality, persist in the principles of “comprehensive planning, categorized guidance, government promotion, fostering markets, perfecting regulations, supervising strictly, opening up in an orderly manner, and safeguarding security, establish a system of credit information bodies in which credit information bodies with a nationwide scope and social credit information bodies coexist, and all have their own service characteristics, and finally create a basic social credit system framework and operational mechanisms with integrated systems, a clear division of work, efficient operations and powerful supervision.

Integrate our country’s reality, clarify long-term objectives, stage-type objectives and work focus points, differentiate different circumstances, adopt different policies, move forward social credit system construction work in a planned and gradual manner. We must strengthen organizational coordination, move forward credit information sharing, integrate credit service resources, and accelerate the construction of enterprise and individual credit service systems. We must start form market needs, vigorously foster and develop credit service markets, improve the external environment, and stimulate competition and innovation. We must firmly grasp the completion of laws and regulations, rationalize supervision and management systems, clarify supervision and management duties, standardize credit service acts and market order according to the law, and protect the lawful rights and interests of parties. We must, according to the principle of gradual progress, expand opening up to the outside world, vigorously bring in advanced management experiences and technologies, stimulate the development of the credit service sector, satisfy market demand and safeguard the security of State information.

III, Perfecting sectoral credit records, moving forward the construction of sectoral credit

The construction of the social credit system involves all areas of economic and social life. The production, exchange, allocation and consumption of merchandise is the basis for the development of social credit relations, the development of the social credit system must be suited to the development level of productive forces and the degree of marketization. On the basis of our country’s national circumstances and the social development needs in the current stage, aim at prominent contradictions and problems in our country’s market economy order, learn from international experiences, further perfect credit records concerning borrowing, tax payments, contract implementation and product quality, and move forward the construction of sectoral credit.

The construction of sectoral credit systems is an important component part of the construction of the social credit system, and plays an important role in stimulating self-discipline by enterprises and individuals, creating effective market restraints. We must rely on management systems such as “Golden Taxation”, “Golden Customs”, etc., perfect taxpayer credit databases, establish and complete enterprise and individual tax evasion records. We must implement contract implementation filing and major contract authentication structures, explore the establishment of contract implementation credit records, and attack contract swindling according to the law. We must rely on the “Golden Quality” management system to promote the electronization of enterprise product quality records, regularly publish product quality information, and accelerate categorized management of product quality credit. We must continue to move forward with the construction of small and mid-size enterprise credit structures and price credit. We must give rein to the role of chambers of commerce and [sectoral] associations, simulate the construction of sectoral credit and sectoral promise-keeping and self-discipline. Relevant State Council departments must, on the basis of the division of work and responsibilities and real work needs, grasp the research and establishment of market subject credit records, implement internal categorized credit management, complete negative information disclosure structures and promise-keeping incentive structures, raise public service and market supervision levels. All departments must cooperate vigorously, timely communicate circumstances, establish credit information sharing structures, progressively construct and perfect real-name information sharing platforms and systems based on organizational body codes and personal identification codes, create joint punishment mechanisms for promise-breaking, and truly ensure that promise-breakers “are unable to do anything once a promise is broken.”

IV, Accelerating the construction of credit information systems, establishing uniform credit information platforms in the financial sector

Finance is the core of the modern economy. The financial sector and especially the banking sector is the main provider and user of social credit information. We must take credit information system construction as an entry point, further complete credit management systems for the negotiable security sector, the insurance sector and foreign exchange management, strengthen coordination and cooperation between financial departments, progressively establish unified credit information platforms for the financial sector, stimulate credit information integration and sharing in the financial sector, and steadily move forward the construction of a credit system for our country’s financial industry. All localities and all departments must vigorously support the construction and development of credit information systems, fully use their credit information resources and strengthen credit construction and management. Credit information bodies must, according to the law, collect enterprise and individual information, and provide convenient, rapid and efficient credit information services to government departments, financial supervision and management bodies, financial bodies, enterprises and individuals.

V, Fostering credit service markets, safely and orderly opening up to the outside world

We must strengthen propaganda and education about sincerity and promise-keeping, foster credit consciousness in the entire society, and establish good social credit trends. We must encourage the expansion of the usage scope of credit products, foster credit service market needs, and support the development of credit service markets. We must firmly take the market as guidance, foster and develop credit service bodies with complete categories, mutually supporting functioning, lawful functioning and market credibility, collect, integrate, process and provide credit information indigenously and according to the law, encourage the opening up and innovation of credit products, and stimulate the multi-level, diversified and specialized credit service needs of all of society.

Government information openness is the basis of the development of credit service markets. All departments and all localities must, under the precondition of protecting State secrets, commercial secrets and personal privacy, open up the credit information they obtain during administrative management according to the law. Local People’s Governments must further move forward the construction of social credit systems in their own areas, fully use credit records concerning borrowing, tax payments, contract implementation and product quality, improve the local credit environment, and reduce duplicate construction and resource wastage. Localities meeting conditions may, in line with the principles of economy and efficiency, and acting according to capability, vigorously explore effective methods and channels for the construction of a social credit system.

Under the precondition of strict supervision, perfecting systems and ensuring information security, gradually, steadily and appropriately open up the credit service markets, and bring in foreign advanced management experiences and technologies. On the basis of WTO principles concerning general exceptions and security exceptions, the construction of fundamental credit information databases, and areas with high information protection requirements in credit services are not to be opened up.

VI, Perfecting laws and regulations, strengthening organizational guidance

Finishing laws, regulations and State standard systems is a guarantee for the healthy development of the credit industry. We must formulate relevant laws and regulations according to the need for information sharing, fair competition, benefit to public services and supervision, and safeguarding national information security. We must persist in the principle of equally stressing standards and development, and stimulate the healthy development of the credit service sector. We must strictly differentiate public information and enterprise or individual credit information, appropriately deal with the relationship between information openness and the lawful protection of individual privacy, commercial secrets and State information security, and realistically protect the lawful rights and interests of parties. We must accelerate the construction of State standardization for the credit service sector, and create integrated and scientific credit standard systems.

Transparent and efficient supervision systems are important guarantees for the healthy development of the credit sector. In order to strengthen comprehensive coordination, the State Council General Office will take the lead in establishing a State Council Interministerial Joint Conference for the Construction of the Social Credit System, to guide the implementation of relevant work. According to the principles of unified leadership and comprehensive supervision, and on the basis of concrete tasks and the division of work of all departments, respectively appoint relevant departments to be concretely responsible for daily supervision and management, and implementing supervision responsibilities. Relevant departments must strictly control market access according to the law, supervise and manage credit service bodies, investigate and prosecute acts violating laws and regulations, perfect market withdrawal structures, safeguard the market order, prevent the illegal collection and abuse of credit information, and stimulate the healthy development of the social credit system and the credit services market.

State Council General Office

23 March 2007

建 设 的 若 干 意 见




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