Recently, the General Office of the CPC Central Committee and the General Office of the State Council issued opinions on improving the social credit system.
The General Office of the Communist Party of China Central Committee and the General Office of the State Council have published a guideline to improve the social credit system recently.
【Knowledge Points】
The social credit system is an important part of the socialist market economic system and social governance system. It is based on laws, regulations, standards and contracts, based on improving the credit records and credit infrastructure network covering members of society, supported by credit information compliance application and credit service system, establishing the cultural concept of integrity and promoting the traditional virtues of integrity as an internal requirement, and using incentives for compliance and constraints on breach of trust as reward and punishment mechanisms, with the purpose of improving the integrity awareness and credit level of the whole society. In recent years, my country’s social credit system has made important progress: it has built a unified social credit code system; compiled a public credit information catalog and collected 80.7 billion credit data of various types; built a nationwide unified financing credit service platform network to help credit entities raise more than 37 trillion yuan; promoted the credit commitment system, carried out public credit evaluation, and initially built a new credit-based regulatory mechanism. However, at the same time, the social credit system still has problems such as insufficient institutional rules and insufficient openness of credit information sharing and opening up. It is necessary to further improve the social credit system and provide basic support for high-quality economic and social development. At present, the construction of my country’s social credit system is ushering in an unprecedented period of development opportunities. The report of the 20th National Congress of the Communist Party of China proposed to improve the basic systems of market economy such as property rights protection, market access, fair competition, and social credit. The “Decision” of the Third Plenary Session of the 20th Central Committee of the Communist Party of China clearly states that the social credit system and regulatory system should be improved.
On March 31, 2025, the “Opinions on Improving the Social Credit System” (hereinafter referred to as the “Opinions”) issued by the General Office of the CPC Central Committee and the General Office of the State Council was announced. As an important top-level design document to promote the construction of the social credit system, the opinions adhere to systematic thinking, seeking truth from facts, and implement comprehensive policies, and further consolidate the development foundation for the construction of the social credit system. The opinions are clear that building a social credit system covering all types of subjects, unified system rules, and co-construction, sharing and sharing has pointed out the direction for the construction of the social credit system in the new era. The opinions generally highlight four “full”: all subjects participate, full process coverage, full field promotion, and all-round co-construction, that is, the subjects participating in credit construction should be more extensive, credit application should be closer to various business links, credit construction should focus more on new business forms and new problems, and credit should empower high-quality economic and social development methods to empower high-quality economic and social development should be more comprehensive. In the construction of the social credit system, we must pay attention to giving full play to the power of the market and society, form a benign interaction between the government, the market and society, and promote social governance.
【Important Speech】
Build a unified national market, deepen market-oriented reform of factors, and build a high-standard market system. Improve the basic systems of market economy such as property rights protection, market access, fair competition, and social credit, and optimize the business environment.
We will build a unified national market, advance reforms for the market-based allocation of production factors, and put in place a high-standard market system. We will refine the systems underpinning the market economy, such as those for property rights protection, market access, fair competition, and social credit, in order to improve the business environment.
——October 16, 2022, Xi Jinping’s report at the 20th National Congress of the Communist Party of China
【Related Words】
The national unified market
unified national market
High-standard market system
high-standard market system
Business environment
business environment
China Daily Network English Dots and Tianjin Studio (this article was first published on the “Study Strong Country” learning platform)
(Reprinting is not allowed without authorization)
[Editor in charge: Chen Danni]
