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German companies are social credit role models

China’s social credit system has so far had a less serious impact on German companies than was initially feared. Philipp Senff, partner at the law firm CMS in Shanghai, takes a mixed stock of the situation. Senff cannot confirm that the credit system decides over the “life or death” of companies. This is what the European Chamber of Commerce in Beijing warned about in a dramatic appeal after the announcement. At the time, a survey by the chamber showed that seven out of ten German companies in China were not yet familiar with the system, its mode of operation, and goals.

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