The National Development and Reform Commission ("NDRC") has recently issued the Circular on Pushing and Applying the Integrated Public Credit Assessment Results of Market Players (the "Circular").
The Circular touches upon "including such assessment results in the local credit information platform for the purpose of shared information management", "using such assessment results as the fundamental basis of the grade-based and classified regulation", "seeking extensive opinions and suggestions on integrated public credit assessment from market players", "advocating efforts in exploring ways to improve local and industry-specific credit assessment", "encouraging third-party credit service agencies to perform market-oriented credit assessment" and "instructing market players to strengthen credit building based on the integrated public credit assessment". Among others, the Circular notes that for a market player gaining a "bad" result in the assessment, under the principle of territorial jurisdiction, the authority leading the building of the social credit system of the city or county where the market player is located, together with the industry regulator, shall hold warning talks with its principal and notify its principal in person of the assessment result, main discreditable behaviors, etc., urge and help the market player to take immediate corrective actions, and incorporate records of their talks into its credit history and into the national credit information sharing platform.