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Lack of trust in the social credit system

Two years after its gradual introduction, the social credit system for companies in China continues to pose a long list of concerns and inconsistencies for German companies. This was the verdict of an event on Thursday morning in the Global China Conversations series of the Kiel Institute for the World Economy (IfW).
By
Marcel Grzanna
Image of Marcel Grzanna

A lack of transparency, unclear responsibilities, and obscure evaluation criteria – numerous questions about the implementation of China’s social credit system for companies are still unanswered. In addition, companies fear denunciation, malpractice and new market hurdles. So far, companies have been searching in vain for answers to their questions.

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