China Credit Development Report

Author: Office of the National Leading Group for Rectification and Standardization of the Market Economy Order
Publisher:
Publish Date: 2006-09-01
Features: The integrity we pursue is not only a credit concept and moral norm, but more importantly, a system arrangement. Credit systems and integrity moral standards play a significant role in the real political, economic, and cultural life. In the economic field, integrity is the intrinsic driving force of the "invisible hand," and "reputation is efficiency" is its practical manifestation. In the political field, integrity guarantees the sound operation of policies and laws, and a good credit environment is the foundation of social stability. In the cultural field, integrity, as a value orientation, directly influences people's values and behavioral standards. Credit system construction is an innovative and fundamental foundational work that requires the entire society to participate and work together. Punishing defaulters and promoting trustworthy behavior are the basic goals of the social credit system. Integrity is a traditional virtue of the Chinese nation and an important part of the excellent traditional culture of China. Examining the formation and development of traditional Chinese culture, it is not difficult to find that the concept of integrity and the idea of trustworthy behavior play a foundational and core role in daily life, production, and all social practices. Credit system construction is an innovative and fundamental foundational work that requires the entire society to participate and work together. Punishing defaulters and promoting trustworthy behavior are the basic goals of the social credit system. The integrity we pursue is not only a credit concept and moral norm, but more importantly, a system arrangement. Credit systems and integrity moral standards play a significant role in the real political, economic, and cultural life. To start from the practical situation and tasks of China's credit construction, and to use various effective means to focus on improving credit awareness, strengthening credit management, establishing credit systems, and improving credit regulations, the Office of the National Leading Group for Rectification and Standardization of the Market Order has collaborated with the China Credit Research Center of Peking University to jointly edit and publish this report.