“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\u2019s Republic of China\u2019s plan to build a single, standardized reputation system for local and foreign firms alike.<\/p>\n
The system touches on virtually all aspects of a company\u2019s business operations in China.\u00a0 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 \u201cgood\u201d and sanction those with \u201cbad\u201d behaviour.”<\/p>\n
https:\/\/www.tradecommissioner.gc.ca\/china-chine\/cscs-scse.aspx?<\/a><\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" China\u2019s 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\u2019s Republic of China\u2019s plan … Continue reading