Zhonghongwang.com: 

We noticed that the 2024 editions of the Basic Catalog of Public Credit Information and the Basic List of Disciplinary Measures for Dishonest Practices have been issued. Compared with the 2022 versions, what are the main improvements this year? And how will the implementation of the catalog and list be promoted going forward? Thank you.

Jin Xiandong: 

The social credit system is an important part of the socialist market economy and social governance, as well as an important support for the healthy development of the economy and society. In accordance with the requirements of the State Council, since 2021, the NDRC, together with relevant departments, has compiled the National Basic Catalog of Public Credit Information and the National Basic List of Disciplinary Measures for Dishonest Practices, defining the scope of public credit information, the types of punishment measures for dishonest practices, and the applicable subjects. It has played an important role in protecting the legitimate rights and interests of entities whose credit information is gathered.

To further improve the legalization and standardization of the social credit system , the NDRC recently revised and compiled the 2024 editions of the catalog and the list based on the 2022 editions. The update was made in response to the new requirements of economic and social development, as well as new laws, regulations, and important documents issued over the past two years. The revision of the catalog focuses on strengthening intellectual property protection. The most significant change in the new edition is the addition of the "intellectual property information" category, which includes "trademark pledge registration information," "patent mortgage registration information," and "software copyright information." Additionally, entries such as "social insurance payment status and overdue information" have been added. The revision of the list focuses on alignment with new regulations and measures. For instance, in line with regulatory measures in the financial sector, punitive content such as "prohibition from entering the securities and futures markets according to law" has been added, and those responsible for serious violations in the private equity investment fund sector will be banned from participating in the securities and futures markets.

Moving forward, we will collaborate with relevant parties to effectively implement the catalog and the list, further standardize the collection and use of public credit information, strictly enforce disciplinary measures against dishonesty according to the law and regulations, and effectively protect credit entities' legitimate rights and interests. Our focus is on three main areas. First, for local regulations that clearly define the scope of public credit information inclusion and measures for disciplinary action against dishonesty, we will urge local governments to promptly compile supplementary catalogs and lists in accordance with relevant regulations. We will ensure that other local policy documents are not used as the basis for compiling catalogs and lists. Second, in sectors where lists of seriously dishonest entities are established, we will encourage relevant departments or regulatory agencies to introduce management measures for these lists, specifying the criteria for identification, conditions, and procedures for removal, as well as relief measures. Third, we will urge all regions to strictly adhere to the scope defined in the catalog and the list when collecting and using public credit information and carrying out disciplinary actions. If any locality is found to be using credit information outside the scope of the catalog as public credit information or implementing disciplinary measures beyond the list, we will order immediate rectification and issue a notification, resolutely preventing the generalized and abusive use of credit.

Furthermore, we will continue to improve the credit repair mechanism. Recently, the NDRC, in conjunction with the State Administration for Market Regulation, issued a document to promote mutual recognition of credit repair results between the "Credit China " website and the National Enterprise Credit Information Publicity System , thus resolving the issue of "multiple repairs" for business entities. Moving forward, we will strengthen departmental coordination and continuously improve the efficiency of credit repair, enabling eligible business entities to repair their credit in a more convenient and efficient manner in accordance with laws and regulations. This will further promote the construction of the social credit system and continuously stimulate the vitality of business entities. Thank you.