How Does the Chinese Government Promote the Development of the Social Credit System?

Abstract

This paper introduces the four stages of the construction of China’s social credit system. In combination with the characteristics of the institutional system, this paper describes the specific practices adopted by the Chinese government to promote the construction of the social credit system from six aspects, namely, governing government integrity, business and social ethics and judicial integrity, building the credit information platform, developing third-party credit service institutions and credit service markets, and constructing the social credit system demonstration cities. It argues that the construction of China’s credit system has the problems of insufficient rule of law, imperfect credit platform construction, and difficult credit repair. These problems will be gradually solved in the new phase of the social credit system’s construction starting from 2021, and China will continue to develop and improve its social credit system in the process of solving problems.