#AceNewsReport – Sept.21: But it is generally understood that all companies in China and its 1.4 billion citizens will by 2020 be covered by the mandatory system that is designed to value and engineer better individual behaviour by awarding the trustworthy and punishing the disobedient: Localised versions of the national Social Credit System (SCS) at city and provincial levels are already being employed in the forms of pilot programs including a Deadbeat Map, which allows WeChat users to identity the location of those who have failed to pay their debts within a 500-metre radius, and a system for keeping irresponsible dog owners in check.Beijing has announced one of the most significant developments in its Social Credit System ahead of a planned nationwide rollout of its controversial behavioural engineering system pegged for 2020.
- Companies will be labelled as having excellent, good, fair, or a poor credit rating
- The NDRC will seek feedback from companies and local authorities by the end of October
- Businesses risk repercussions like sanctions or even blacklisting if they don’t comply with rules
Most of the media coverage on the system so far have focused on individuals and pilot projects — the latest announcement marks the widest sweeping national development to date, or at least, that has been released to the public: It is unclear whether Australian employees or foreign companies will be caught up in the corporate social credit system — the ABC approached the NDRC and the Department of Foreign Affairs for comment, but have yet to receive a response.
In Monday’s statement, the NDRC said it had completed initial assessments which will be used to rate the companies as having excellent, good, fair, or a poor credit rating, but added the comprehensive report would only be available to government officials: The commission did not elaborate on the credit rating methodology or list any of the companies affected, but said it will be seeking feedback from those companies and local authorities by the end of October…………………………………But the rating will reportedly include court rulings, tax records, environmental protection issues, government licensing, product quality and punishments by market regulators.
It could spell life or death for individual companies ‘ VIDEO: Surveillance software identifies details about people and vehicles in Beijing.(Photo: Reuters/Thomas Peter) (The World)
Yaqiu Wang, China researcher for Human Rights Watch, told the ABC both Chinese and foreign companies were already “subjected to all kinds of regulatory controls” by the Chinese Government and the lack of transparency around the rating methodology was a cause for concern.
“If a company thinks that it is unfairly rated, to what extent the company can challenge the designation, and through what mechanisms? [It’s] unclear,” she said.
#AceNewsDesk reports ………………Published: September 19, 2019 at 07:28PM:
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