Beijing has remained diligent in developing regulations for a social credit system since announcing the Planning Outline for the Construction of a Social Credit System (2014-2020) in 2014. On November 19, a senior official in Beijing announced the legislative work on rules for the city’s social credit system would be finished by 2020, according to China Daily.
The project is focused on establishing a credit score for every permanent resident (常住人口) in Beijing as well as publishing records of businesses and individuals who lose credit (the report states that records will be made public at regular time period intervals).
According to Beijing Step Towards Optimizing Business Environment Action Plan (2018-2020), the capital city is building an even more fair and honest environment, making Beijing a model city for creditworthiness. Individual scores for Beijing residents will be based off a list of metrics collected including behavior and other measures. If a person has above-average credit in the new scoring system, they will be eligible to receive "green channel" benefits while others with a less desirable score will ‘pay the price.’
At a press conference in Beijing, Tan Xuxiang, head of the Beijing Municipal Commission of Development and Reform, said, “It’s one of the measures to create a fair market for businesses in the city.” The credit system aims to improve Beijing’s current business environment by holding people and businesses more accountable.
It’s important to note that Beijing’s social credit system is not to be confused with other credit reporting systems the People's Bank of China has granted eight businesses to trial. By the end of 2020, Beijing expects to have the regulations for the social credit system completed and integrated with other credit reporting systems to create a comprehensive citywide public credit system platform.
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[Cover image via @Puk_khantho/Unsplash]
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