China’s Social Credit System: How does it impact German companies?


From the Kiel Institute event series: Global China Conversations

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A dystopia of an authoritarian surveillance state or a modern vision of data-based governance? The Chinese social credit system has been the subject of much controversy since it was officially announced in 2014. But what exactly is the new credit system, and how will it affect the Chinese economy and European companies in China? With the new five-year plan (2021-2025), the social credit system is also to be further developed and, above all, centralised. Information on companies is kept in two national databases, and blacklists and redlists are published. Positive developments and violations of regulations and laws by individual companies will be listed in the databases. The system is intended to lead to greater compliance, make the trustworthiness and creditworthiness of companies visible, and enable sanctions to be imposed in the event of more severe violations. What administrative and bureaucratic challenges will European companies face? What are the risks for companies of being blacklisted? How does the fragmentation of the system affect companies? Can the social credit system help to improve business relationships? How is the social credit system developing, and what impact does it have on the international trading system? These and other questions will be discussed with you and our experts in the ninth Global China Conversation. 

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