Enterprise credit is crucial for a nation's economic development
in the modern world, while the establishment of a united credit
organization in China will greatly improve the nation's credit
system.
That is the assessment of Shi Guangsheng, vice-chairman of the
Financial and Economic Committee of the National
People's Congress. He shared his views with government
officials, experts and representatives from more than 100 domestic
and overseas enterprises on the establishment of the Credit
Alliance of Chinese and Foreign Enterprises yesterday in
Beijing.
Sponsored by 22 industrial associations and 56 enterprises from
home and abroad, the alliance will abide by international credit
norms and hopes to mobilize social forces to promote the
establishment of Chinese enterprise credit with exemplary standards
among members.
According to the constitution of the alliance, one of its major
tasks is implementation of an international marketing system for
enterprise credit.
"It is in a bid to make the credit situation for enterprises
become transparent and have the poor credit environment problems
gradually solved," said Shi.
And, to popularize "China's credit enterprises," the alliance
will incubate more credit enterprise groups in accordance with
international standards and enable them to seek more commercial
opportunities in line with international practices.
"The central government has paid much attention to set up a
transparent, complete and updated credit system, which should be
supported by morality, based on property rights and guaranteed by
laws," said Shi.
Du Jinling, deputy president of the Industrial Economy League of
China, said the alliance will take an active role in disseminating
information on the credit culture, enhancing credit awareness,
exchanging credit information and tapping credit resources so as to
promote China's enterprise credit.
"Meanwhile, the alliance will conduct research on the
implementation of principles for a credit system which is suitable
to the current status of Chinese enterprises," said Du.
"The principles are to be provided for the policy makers as
references and be popularized among the alliance members after
experimentation."
Alex K. F. Yuen, chairman of US-based TransUnion (China), one of
the sponsors of the alliance, indicated that the organization will
help the nation perfect its economic environment in line with
market principles under the economic globalization, making China
more attractive to foreigners.
The alliance will be composed by various Grade A enterprises,
professional organizations, relevant governmental institutions, and
experts as well as credit rating organizations.
(China Daily October 21,2003 )
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