Our country will establish a comprehensive evaluation system for corporate credit status.

Securities Times reporter Han Zhongnan

Recently, the General Office of the State Council issued the Implementation Plan on Establishing a Comprehensive Enterprise Credit Assessment System (hereinafter referred to as the “Implementation Plan”). The “Implementation Plan” states that efforts should be made to better leverage the results of public credit assessment as a foundational role in the comprehensive enterprise credit assessment, promote the mutual integration of public credit assessment and market-based credit assessment, and gradually form a unified comprehensive enterprise credit assessment system.

Experts said that the “Implementation Plan” establishes, through systematic design, the institutional framework and operating mechanism for the comprehensive enterprise credit assessment system. By adopting pragmatic measures to address issues such as duplicate assessments, fragmented standards, and insufficient protection of rights and interests, it will promote enterprise credit assessment from the stage of “independent exploration” to a new stage of “unified and standardized” implementation.

The “Implementation Plan” requires that public credit assessment systems be improved; public credit assessment rules, industry credit assessment management, and channels for disclosing public credit assessment results be unified; the coordinated mechanism for industry credit assessment be strengthened; market-based credit assessment be developed in a standardized manner; public credit assessment and market-based credit assessment be integrated and applied faster; the supporting role of credit assessment in financing for small and micro enterprises be better leveraged; the evaluation update and adjustment mechanism after credit repair be improved; channels for handling objections and appeals be unblocked; and responsibilities for credit assessment management be implemented.

In response to the pain points that evaluation rules are inconsistent across localities and departments, and results are not mutually recognized, the “Implementation Plan” delineates evaluation authority and responsibilities, unifies public credit assessment rules, and breaks down market barriers at the institutional level, so that enterprises with good credit can enjoy more credit dividends in areas such as financing and bidding, and system-inherent transaction costs can be significantly reduced.

He Ling, Director of the Comprehensive Assessment Division under the Business Environment Development Promotion Center of the National Development and Reform Commission, said that the issuance of the “Implementation Plan” is an important institutional arrangement for improving the socialist market economy system at a high level, building a nationwide unified market, and creating a world-class business environment.

To ensure the plan is implemented smoothly, the “Implementation Plan” emphasizes that local governments and relevant departments should do a solid job in implementing it; strengthen data-sharing support; optimize credit assessment procedures; standardize the application of credit assessment; work to establish and improve a legal and regulatory system for enterprise credit assessment; do a good job in tasks related to drafting, revising, abolishing, and interpreting regulations; create a fair competitive market environment; and help build a nationwide unified market.

Zhang Xiaolan, a researcher in the Information and Industrial Development Department of the National Information Center under the National Development and Reform Commission, said that as the “Implementation Plan” is steadily advanced, the comprehensive enterprise credit assessment system will continue to improve. The institutional advantage of “enabling development with credit” will be further converted into tangible results in promoting high-quality development.

(Editor: Dong Pingping)

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