Guangming Daily:

We have noted that last year, the SAMR released regulations on credit restoration for business operators. These regulations have played a positive role in assisting business entities to correct their mistakes and rebuild their credit. Could you please provide an introduction to this? Thank you.

Pu Chun:

This is a very important question, and I will answer it. In recent years, the SAMR has prioritized adhering to high-quality development in the new era. We have actively innovated institutional mechanisms, vigorously promoted credit restoration for business entities, and helped them improve their credit levels and market competitiveness, fully promoting high-quality economic development of China.

By the end of December 2023, market regulation departments across the country have restored 850,000 administrative punishment records for various business entities, restored 4.96 million pieces of information on the list of abnormal business operations, and resolved the abnormal status of 17.76 million individual businesses. These business entities were relieved from restrictions in tendering and bidding, investment and financing, and the awarding of honorary titles in accordance with the law, unleashing the vitality of business entities and creating a market-oriented, law-based and world-class business environment.

The SAMR has introduced the Administrative Measures for Credit Repair in Market Supervision and Management and the Regulations on Procedures for Credit Repair Regarding the Lists of Entities with Serious Acts of Bad Faith and Disclosed in Administrative Penalty Announcements (Trial Implementation). These measures aim to establish a credit repair framework that features hierarchical and categorized management with phased exits. Relying on the National Enterprise Credit Information Publicity System, we provided guidance for local authorities to establish and enhance online credit restoration systems, enabling credit restoration to be available online nationwide. This facilitates efficient and convenient credit restoration services for business entities. Extensive publicity and interpretation efforts have been conducted to enhance enterprises' awareness of credit restoration policies, guiding them to actively repair their credit and elevate their credit standing. Proactive guidance has been given to local market supervision departments to establish and improve mechanisms for information sharing and mutual recognition with the Credit China website, promoting mutual recognition and synchronization of credit restoration results, and contributing to the construction of a unified national market.

Market supervision departments in various regions have innovated their credit restoration mechanisms, continuously improving their service capabilities and levels. Shandong, Jiangxi, Yunnan, and Xizang have established a mechanism for the simultaneous delivery of administrative penalty decisions and credit restoration notifications, promptly informing business entities of credit restoration methods and procedures. Beijing and Yunnan have shortened the processing time for credit repair applications, efficiently assisting business entities in rebuilding their credit. Jiangsu has implemented personalized reminders for credit restoration, enhancing the precision of credit restoration services. Anhui has explored the implementation of three credit restoration models: "commitment with further delivery," "commitment for verification-free services," and "instant application, instant handling." These models use commitments to facilitate credit restoration. It also set up "credit restoration stations" to provide one-stop services for "registration" and "credit restoration." Active guidance is provided to local innovations in work mechanisms to enhance credit repair efficiency. Thank you.