China to further improve social credit system

Robotic arms assemble engines on an assembly line at a workshop of the Weichai Power Co., Ltd. in Weifang City, east China's Shandong province, April 22, 2021.[Xinhua/Guo Xulei]

BEIJING -- The general offices of the Communist Party of China Central Committee and the State Council have issued a guideline on underpinning the development of the social credit system.

It called for strengthening the integrity of scientific research and protecting intellectual property rights, cracking down on thesis trading, and optimizing the protection and application system for intellectual property rights.

Quality control of products and services will be enhanced, and the supply of quality products and services in the domestic market will be expanded, the guideline said, noting that China will also cultivate model enterprises of integrity management.

Meanwhile, China will foster an environment for honest consumption and investment, such as cracking down on the production and sale of counterfeit goods, illegal advertising, and false publicity.

China will also improve the credit system for ecological and environmental protection, according to the document.

The document also called for building the credit system for the capital market, developing inclusive finance, expanding the scale of credit loans, and solving the financing problems of micro, small and medium-sized enterprises, and individual businesses.