China’s Corporate Social Credit System: How businesses can prepare

“China developed the Corporate Social Credit System (CSCS) to ensure corporate compliance and improve behaviour of companies doing business in China. It is part of the People’s Republic of China’s plan to build a single, standardized reputation system for local and foreign firms alike.

The system touches on virtually all aspects of a company’s business operations in China.  It assesses the performance and demeanor of companies, by analyzing topic-specific ratings (e.g. tax, customs and environmental protection) and compliance records (e.g. on anti-monopoly cases, data transfers, pricing and licenses). The automated system collects data, processes and rates it against the defined requirements. Based on their rating, Chinese authorities will reward businesses with “good” and sanction those with “bad” behaviour.”

  • Penalties for low social credit scores
  • Rewards for compliance
  • Challenges of compliance
  • How to prepare
  • Get help

https://www.tradecommissioner.gc.ca/china-chine/cscs-scse.aspx?