Work progress

Speech by Mr. Wang Maolin, Vice Chairman, NPC Law Committee





Distinguished guests, ladies, gentlemen and friends,


Good afternoon!


Approved by the National Office of Rectification and Standardization of Market Economic Order, The Promotion Campaign of China International Credit Enterprises is formally launched today. This campaign is jointly sponsored by our China International Institute of Multinational Corporations, which is well-known in the world for organizing and issuing the World Economic Development Declaration, and US Dun & Bradstreet Corporation, the world’s largest credit rating institute. The content of the campaign includes the international credit rating for enterprises and the promotion and exhibition of credit enterprises.


In the past two years after the World Economic Development Declaration Conference was successfully concluded, we have investigated and researched fully the domestic and foreign markets according to the trend of international economic development and the demands of Chinese economic development. On the basis of analyzing nearly 10,000 Chinese enterprises’ data and cooperating with D&B Group, we have jointly compiled the ‘Standard Rating for China International Credit Enterprises’. In order to scientize and standardize the standards to satisfy the Chinese policies of” bringing in” and “going out” and to be recognized by the international society, we have solicited opinions from related leaders of 11 ministries and commissions, over 30 economists at home and abroad, over 100 entrepreneurs, foreign chambers of commerce in China, related industrial associations, and industrial chambers of commerce, and held 3 large argumentation conferences and more than 10 talks successively in the process of making the standards. It is reasonable to say that making of the standards and unfolding of these activities are the result of wisdom of numerous leaders, numerous colleagues and numerous scholars. It is predicted that at the end of this year, China International Credit Enterprises will step to the international stage of economic globalization, which is a great event that the world focuses attention upon. It indicates to the world that China is reconstructing under the government’s high recognition of enterprises credit. With the spirit of high responsibility, China is actively promoting credit construction of Chinese enterprises, and intensifying enterprises’ core competitiveness.


As is known to all, an old Chinese exhortation goes like ‘a person can’t stand without credit, family can’t flourish without credit, business can’t thrive without credit, and nation can’t strengthen without credit’. Thousands of social developments have connected credit firmly with individual, family, career, and nation. Credit is Chinese people’s virtue and important part of Chinese culture. We also can’t deny that in the period of Chinese social transformation, relatively serious credit crisis has appeared which produced tremendous loss for our society and economic development. We have analyzed systemically these problems in ‘Scheme of Promotion Campaign of China International Credit Enterprises’ and give relatively doable measures to solve these problems by drawing on the wisdom of the masses in accordance with related national demands.


‘Scientific and standardized, public and clarified, withstanding test of time and market’ are the standards of this campaign. ‘Equality and fairness’ are the promise we make to the society! I believe that as the activities deepen and ‘China International Credit Enterprises’ are promoted, the credit-lack phenomenon will decrease gradually.


I’d like to share some of my opinions with you


1. Our party and government attach great importance to credit construction.


In Recent years, our government and Party put it at unprecedented height and treat it as a very urgent task. Secretary-General Mr. Hu Jintao and Premier Mr. Wen Jiabao have emphasized many times that the government departments and social organizations should cooperate closely to speed up the social credit system establishment. Madam Wu Yi, Vice Premier of the State Council and leader of the Leading Group of National Office of Rectification and Standardization of Market Economic Order suggests that we establish the basic frame of our country’s social credit system and operation system. Mr. Bo Xilai, Minister of Commerce, vice minister of commerce, Mr. Jiang Zengwei, Director of National Office of Rectification and Standardization of Market Economic Order and leaders of related ministries and commissions have given many important instructions and specific requirements. We launch this activity under this situation. In the process of making programs and standards of credit rating, we have held special meetings to verify many times and we follow the related instructions from the leaders, based on scientific standard, public transparency, and durability of time and market test, in conformity to the three principles of serving the enterprises, independent construction, positive compliment and punishment for breach of confidence. We highly appreciate the strong support from the National Office of Rectification and Standardization of Market Economic Order. We benefit a lot from their constructive advices. Meanwhile, we appreciate the strong support from related ministries, professional associations, related experts and scholars. Their constructive advices perfect the activity program. We also appreciate foreign chambers of commerce in China and some Chinese and foreign well- known enterprises. They also gave us a lot of valuable suggestions. It is the Party and government’s strategic decision of credit construction and responsibility to promote the enterprise international credit construction that brings us together. We should make our utmost possible efforts to make contributions for a common goal.   


2. Enterprise credit is vital for an enterprise’s survival and development. It is also an enterprises’ social responsibility. The main objective of promoting enterprises’ international credit is to solve the big issue of survival and development of enterprises under the immense trend of economic globalization. Under intense competitiveness within social reality, credit is the cornerstone and competitive edge in the market as well as the vital and ‘intangible assets’ for the existence and development of an enterprise. Under market economic conditions, any economic main body has to rely on credit to make contact with other economic main bodies. Enterprises are the main bodies of economic activity and their credit situations not only decide the destiny of the enterprises themselves, but also influence the economic activity of the related main bodies as well as the efficiency of the whole economic course and the market order. Furthermore, they restrict the country’s economic development. Enterprises’ credit also embodies and bears a kind of social responsibility as well as influences social’s stability and solidarity. Under market economic conditions, if one loses credibility, he/she will be unable to affiliate with anyone; if an enterprise loses credit, it will be unable to survive in the market; if a country loses credibility, it will not only disturb the economic order, but also the stability and solidarity. Enterprises’ credit is also a power, and even more so, a kind of social responsibility. It can guarantee no violation of enterprises’ legal rights and interests, and also guarantee enterprises to gain corresponding credit interest as well as trade safety. Moreover, it enhances the efficiency of trading and lowers the trading costs. A favorable enterprise credit is not only able to promote enterprises trading activity and economic exchange, but also ensures the enterprise survival and development, as well as promotes the construction of a harmonious society. 


3.  Rating of International Credit Enterprises will be based on the participation in international competition


Economic globalization is the overall trend of world economic development at present, and it is the transfer activity of production ability and capacity as well as industrial dividend worldwide. The globalization of production activity, worldwide sharing of production information, global configuration of production elements and worldwide streaming of production capital are the main characteristics. These classifications of transnational and multi-civilization of economic exchange and exchange of cooperation are not only unable to use public relationships of the past, it is impossible to have a clearly targeted credit background. Hence, you are faced with a completely strange environment and faces. This new style of exchange in the big environment, whether it is ‘going out’ or ‘bringing in’ and also realistic economic exchange, all needs to rely on ‘credit’ to connect with each other Moreover, it needs to depend on ‘credit’ for implementation. This is ‘credit’; this is ‘international credit’. 


International credit is a qualifying brand for competition in the international market and without this, you are not qualified to participate in the international competition. Therefore, we can say that the rating of China International Credit Enterprises is a requirement for China in implementing the developmental strategy of ‘bringing in’ and ‘going out’ as well as a requirement of the international market. Furthermore, it is the urgent demand of our nation to implement the strategy of ‘Open Up’. The rating and promotion are aimed at increasing international exchange of Chinese enterprises, participating in international competition, seeking cooperation partners, strengthening investment and financing trade and developing enterprises’ competition ability in the international market.


On the basis of this aim and demand, as well as according to the principles of marketization, we promote the China International Credit Enterprises, which will further increase enterprises’ production and competition ability and at the same time, serve the economic development, enterprises’ participation in international competition and the objective of constructing a harmonious society. The construction of China International Credit Enterprises base itself upon the strategic implementation of Chinese enterprises ‘goinging out’ and foreign enterprises ‘bringing in’ as well as in participation in international competitions.


In order to increase the international level of the activities, we shall build a powerful database which is internationally connected and a system for corresponding credit compliment as well as punishment for losing credit. China International Credit Enterprises promotion activity is a long- term work and will be held annually. Eligible enterprises will be given ‘credit award’ and a title as ‘China International Credit Enterprise’. On the other hand, title of enterprises which lose credit will be cancelled. 


Distinguished guests, ladies, gentlemen and friends, the launch of promotion campaign of China International Credit Enterrises is a big event in both Chinese and international economic development. It indicates that China will participate in international competition with more active and responsible attitude, and promote the active, healthy and persistent development of world economy. For the world peaceful and persistent development and China entering a new developing period, I wish that under the leadership of CCCPC and the State Council and the guidance of related departments, we will unite and make great efforts to contribute to the local and international credit construction of enterprises of our country.


Thank you.



Wang Maolin

President of China International Institute of Multinational Corporations