Exclusive Dialogue with Deputy Director-General Zhang Chun, NDRC, on Corporate Social Credit System
2019-11-19 | Beijing
On 19th November 2019, the European Chamber held an exclusive dialogue with Zhang Chun, deputy director general (DDG), Fiscal, Financial Affairs and Credit Building Department, the National Development and Reform Commission. The event was themed ‘Enhancing the Establishment of Corporate Social Credit System (CSCS) and Boosting the Optimisation of the Business Environment’. Nearly 100 representatives of European Chamber member companies, embassies and organisations attended.
After giving a general background introduction on the CSCS, DDG Zhang Chun further outlined the responsibility assignments, structure, implementation progress and outlook of the system. He emphasised that the aim of the CSCS was to improve the level of supervision and abilities of the authorities, and to standardise market order, through the pre-, interim- and post-market supervision management mechanism. DDG Zhang said the CSCS will not increase compliance costs for enterprises. He added that enterprises that operate legally with good credit records will see the benefits, for example, administrative approval times will be shortened, the frequency of non-essential customs clearance and inspection times will be lowered and reduced. At the same time, enterprises that engage in seriously illegal activities and are non-compliant or destructive will be subject to heavier, additional and more frequent supervision.
During the event, DDG Zhang Chun provided official responses to a few questions raised by Chamber members, concerning rating records generation and storage, credit repair, the relationship of rating results between the company and its suppliers, if the rating results of the legal persons/key persons impact company rating results, joint-sanction, blacklist and whitelist etc. It was agreed by DDG Zhang Chun that further exchanges between European Chamber and Fiscal, Financial Affairs and Credit Building Department, NDRC on the CSCS will continue.