'Reputation of China' outweighing 'Made in China'

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Last updated at: (Beijing Time) Friday, October 24, 2003

'Reputation of China' outweighing 'Made in China'

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"Reputation of China" makes more sense than "made in China". It is a common view of leaders, experts and enterprise representatives at the "2nd Senior Workshop for China's Transnational Operation and Credit Management" at Guangzhou Fair.

Liao Xiaoqi, deputy minister of Commerce, attended and delivered an important speech at the meeting. He said the central government and the State Council attach great importance to the establishment of social credit system. The 3rd Plenary Session of the 16th Party Congress, which closed just a few days ago, decided to speed up the building a unified national market, push forward the opening up of the market both domestically and internationally, boost the capital market and market of other productive elements, and facilitate the free flow and competition of commodities and various productive elements in the country. The whole society should have a better awareness of credit so as to build up a social credit system backed by morality, based on the property rights and ensured by the law.

Liao said the credit system for foreign trade is an integral part of the social credit system. More and more enterprises are joining the international exchanges of goods and competition along with the deepening of international division of work and the economic globalization and the gradual opening of the foreign trade rights for China to involve deeper into the World Trade Organization. Therefore, the credit management and construction of a credit system has become a pressed and crucial matter for China.

Liao pointed out that duel approaches would lead to a sound credit system for foreign trade enterprises, namely, government promotion on the one hand and the driving force from the market on the other. Specifically, the first is to launch a popular credit education in various ways in the whole society. Secondly, relevant rules and regulations should be worked out as early as possible to gear to the laws in well-organized way. Thirdly, on the basis of classified info-oriented management, an internal basic databank with an extended coverage reflecting the credit status of enterprises and individuals should be installed and accessible to the public in line with the law. Fourthly, great efforts should be made to boost the credit market and development of credit information agencies to realize the market-oriented operation and a united system of credit information services. The last is to build a highly efficient technical backup system for the standardization of information providing, rating, and services.

Liao stressed that the improvement of enterprises' credit is a key and urgent task in the establishment of the social credit system. The Ministry of Commerce will closely follow the direction put forward by Wu Yi, the vice premier in "establishing a credit system first in trade circle" by working out the plan for the establishment and the classification of credit system for trade enterprises and tightening the self-discipline and credit risk management.

Attendees of the workshop included famous experts at home and abroad, over 200 representatives from enterprises and those from the National Office for Readjustment and Standardization of Market Economic Order. More than 100 enterprises were awarded the certificate of "Designated Enterprises for Demonstration of China's Foreign Trade Credit System" by the Experts Evaluation Committee. The meeting had discussions on the issue for enterprises to be honest in foreign trade with "Guangzhou Declaration" jointly proclaimed by well-known foreign trade enterprises, calling for an issuance as early as possible of regulations on the credit management for foreign trade enterprises, availability of database of enterprises credit record, and somewhat favorable policies to enterprises of good performance. The "White Paper for Credit System of China's Foreign Trade Enterprises" was released for the first time during the meeting and "Regulations of Credit Management System for China's Foreign Trade Enterprises" was subjected to opinions and suggestions from foreign trade enterprises.

(Article from China News Service and trans. by PD Online staff member Lijia)

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