China's First Enterprise Credit Pre-warning System Unveiled In Zhejiang

China's first enterprise credit pre-warning system has been formally unveiled in Zhejiang Province by Zhejiang Provincial Administration for Industry and Commerce.

The System reportedly includes 22 kinds of enterprise credit information and divides enterprises' poor credit into three pre-warning levels based on the classification and filtration of enterprise credit information via a special software.

In particular, the System offers more details on the Level One Pre-warning. Companies that are involved in six kinds of behaviors, including not offering detailed corporate information, not participating in an annual inspection, having their business license revoked, polluting the environment, refusing government department checks or violating social security or public safety rules will receive a Level One Pre-warning.

If a company is involved in any of the six kinds of behaviors mentioned above, its name will be publicized by local agencies and it will be banned from joining any accreditation activities.

Based on the implementation of the credit pre-warning among enterprises, ZPAIC says that it will soon adopt a credit pre-warning system among self-employed people.

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