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State Council releases guidelines on establishing individual credit system

Updated: Dec 30,2016 5:33 PM

To improve the credit level of the whole society, and create a better social credit environment, the State Council released guidelines on the construction of an individual credit system on Dec 30.

According to the guidelines, speeding up the individual credit system construction, and improving the security of individual information will help perfect the trust reward and punishment mechanism, and make trust a guiding principle for the whole society.

It said several measures will be taken to improve the registration work.

First is recording the individual credit records. The individual real-name registration system will be improved, and a unified social credit code system will be built based on the ID number of citizens. During the recording process, citizens’ registered information in internet, delivery, telecom and financial sectors will be helpful for improving the collection accuracy.

It also urged concentrating the registration efforts in key sectors such as food and drugs, work safety, environmental protection, work security and engineering construction. To help ensure that the information is accurate, the main subjects will be lawyers, teachers, civil servants and real estate brokers.

Second is improving individual information security, including strengthening piracy protection, and establishing a credit repair mechanism.

Third is promoting sharing of individual credit information. A national unified individual public credit information catalogue, classification standards and sharing exchange standards will be established. And governments at all levels should provide individual public information inquiry services to the public.

Fourth is perfecting the incentive and punishment mechanisms of individual credit. People who have good credit scores would be offered more social conveniences, especially more opportunities in education, employment, and entrepreneurship.

Citizens with bad credit scores may be punished according to related laws and regulations, said the guidelines.