Meeting with Shanghai Municipal Development and Reform Commission on the Corporate Social Credit System
2019-12-04 | Shanghai
On 4th December, European Chamber Vice President (VP) and Chair of the Shanghai Board, Carlo D’Andrea, and Shanghai Chapter General Manager (GM) Ioana Kraft met with Deputy Director General (DDG) Zhu Min of the Shanghai Municipal Development and Reform Commission (SHDRC), along with representatives from the offices of Social Credit Promotion and Open Economic Development.
VP D’Andrea raised some concerns and questions shared by the foreign business community, such as whether the corporate social credit system (CSCS) has taken effect in Shanghai and whether personal credits or those of a supplier will also impact an enterprise’s overall rating. In reply, DDG Zhu noted that a credit rating system is currently not on the agenda of the SHDRC; to date, the CSCS is merely gathering information that is already available, such as qualifications and penalties companies have received.