Recently, Xiang Xin, Secretary General of the general office of the Leading Group for the National Recitification and Normalization of the Market Economic Order said in Chongqing that China is accelerating the building of a social credit system with trade credit, credit acquirement market and the protection for intellectual property as the main.

Recent, Xiang Xin pointed out at the Innovation Forum of the China Commodities Transaction Market held in Chongqing that "The imperfection of the social credit system led to the lack of trade credit and the infringement of the intellectual property and other acts, increased the transaction cost and disrupted the market order, thus causing substantial damage to the healthy development of the market economy, as well as the image of China's international trade.  Therefore, the state has accelerated the building of a credit supervisory and management system."

In the trade credit sector, China has started its implementation of the credit classification supervisory and management system.  The State Administration of Industry and Commerce has established a regulatory system for the preservation of six million enterprises credit records.  According to the corporate credit registration standards, we have defined the encouragement, pre-warning and punishment mechanisms.  The People's Bank of China has established a national networking system for corporate and individual credit registration.  The customs, food and pharmaceutical regulatory as well as the quality supervisory and management departments have also established the relevant credit monitoring system.  At present, the state is organizing the departments of industry and commerce, national taxation and local taxation to establish a credit information cooperation joint-sharing mechanism together with the Changjiang River Delta and other regions.

Xiang Xin said that the "State will promote the enterprise associations, the trade associations, the chambers of commerce and the intermediary agencies to actively take part in the building of a credit system and conduct credit assessment as well as supervision and management.  Meanwhile, more than one hundred credit investigation agencies, and more than two hundred credit guarantee agencies have been established.  Anti-trade fraud and the protection for intellectual property information networking are being built in earnest.  Moreover, fifty centers for reporting the claims that cover the entire country have been established, with the expectation that they will even better protect the market transaction and the intellectual property."

Xiang Xin stated that China's commodities transaction markets are developing from scope operation to management innovation in order to provide added-value service for commodities transaction.  And innovation of the consumption forms, upgrading the credit level of commodities transaction and creating name brand market have become the core of competition in the current commodities transaction market.

2006-10-25

2006-10-25