Credit alliance established in Beijing

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Last updated at: (Beijing Time) Tuesday, October 21, 2003

Credit alliance established in Beijing

The Credit Alliance of Chinese and Foreign Enterprises, the first such alliance in China devoted to promoting the nation's credit system construction, was established in Beijing Monday.

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The Credit Alliance of Chinese and Foreign Enterprises, the first such alliance in China devoted to promoting the nation's credit system construction, was established in Beijing Monday.

President of the alliance Shi Guangsheng said its task was to improve enterprises' credit construction through disseminating credit culture, to boost public credit awareness, transmit information and explore resources.

The alliance would organize research concerning projects of credit system implementation to offer advice to the government, and initiate a project called "China's credible enterprises" to foster more groups of credit-worthy enterprises in China, he said.

"We will gradually improve China's credit environment by implementing a credit rating system according to international practice, which will make an enterprise's credit condition transparent," he said.

The alliance was jointly initiated by dozens of Chinese and foreign enterprises, and dozens of industrial associations and well-known credit rating organizations.

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