China will introduce more market mechanisms to encourage companies to accelerate their green, low-carbon transitions, according to the Ministry of Ecology and Environment.
China races toward plan to blacklist companies for their behaviour
We’re sorry, this service is currently unavailable. Please try again later.
Dismiss
China races toward plan to blacklist companies for their behaviour
By Bloomberg News
Normal text size
Advertisement
China is making swift advances with a system for measuring the social creditworthiness of companies, a sweeping data-collection effort that could solidify Beijing's control over foreign and domestic enterprises and possibly challenge the dominance of US credit-rating companies.
The corporate social credit system was originally dreamed up two decades ago, but it has since expanded into an ambitious national project that is now taking shape, according to a new, 95-page report from the consulting firm Trivium China for the US China Economic & Security Review Commission. The CSCS effort gathers information on companies from at least 44 state agencies and their branch offices in every province across the country.