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China to outline creation of social credit system

2014-05-06 14:39:22Source:XinhuaAuthor:

China will soon release an outline for building a government-led national social credit system to assess individuals and organizations on areas ranging from tax payment to judicial credibility.

The outline, the drafting of which was led by the National Development and Reform Commission and the People's Bank of China, focuses on credibility building in four areas, including administrative affairs, commercial activities, social behaviors, and the judicial system, the Economic Information Daily reported on Monday.

"All the efforts to construct the social credit system will be centered on these four aspects," said Zhang Zheng, director of the China Credit Research Center under Peking University.

According to the outline, China will also establish an integrated platform by 2017 to collect credit information on financial, industrial, and commercial registration, taxes and social security payments, as well as traffic violations.

To facilitate the process, individuals and organizations will be coded based on identity card numbers or organization numbers.

Both central and local governments have set timetables, Zhang said. Guangdong, Jiangsu and Guizhou provinces have drafted their own guidelines in response.