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In May this year the Mercator Institute of China Studies (MERICS) released a major new report, China’s Social Security System: A big data enabled approach to market regulations with broad implications for doing business in China. The report seeks to shed light on a new and highly ambitious scheme to monitor, rate, and regulate the behavior of both, Chinese citizens and companies.
This “social-credit system” would mobilize technology to collect information on all citizens and use that information to rate their behavior, including financial creditworthiness and personal conduct. Planning documents have stated that the aim is to “allow the trustworthy to roam everywhere under heaven while making it hard for the discredited to take a single step.”
While an initial assessment of the system cannot help but elicit concerns on the proposed level of personal monitoring; if implemented properly it has the potential to prevent illegal behavior, strengthen companies economic trustworthiness and create a culture of social responsibility, for example by creating a real time mechanism to punish those not complying with environmental regulations or not paying suppliers.
The European Chamber is delighted to welcome Bjorn Conrad, Vice President of Research, MERICS to share the key findings of this significant piece of research and to highlight how this developing system has the potential to fundamentally affect the way companies do business; to punish those whose operations are not in line with industrial policy, and to create pressure for companies to undergo self-censorship.
Agenda
08:30-09:00 Registration & Coffee
09:00-09:05 Welcome Remarks by Mats Harborn, President, European Chamber
09:05-09:50 Presentation by Bjorn Conrad, Vice President of Research, MERICS, China’s Social Security System: A big data enabled approach to market regulations with broad implications for doing business in China
09:50-10:30 Moderated discussion followed by Q&A
*Please note the views expressed in this event are those of our guest speaker and do not necessarily reflect the position of the European Union Chamber of Commerce in China.
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This event is off the record.
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