The State Administration for Market Regulation (SAMR) is accelerating the development and creation of a unified national credit information disclosure platform, according to a report on the regulator’s website. The system is expected to be launched at the end of this year or early next year.
Business entities will be able to register on the platform through an electronic license to conduct commercial activities. In addition to their credit status, they will be able to obtain data on fines and violations, illegal and inaccurate information.
In the event of a change in credit history, companies will be able to apply for a credit rating improvement (“credit restoration”).
“The development and construction of a unified platform will further optimize the credit restoration mechanism, provide businesses with more efficient and convenient services, and play a positive role in encouraging businesses to restore their credit history and promote quality development,” SAMR said in a statement.
