SHENZHEN plans to establish credit files for all enterprises in the next five years, according to a plan for the construction of a city enterprise credit system.
The market supervision bureau had collected credit data from more than 1.46 million companies since 2002, forming a basis of the credit system.
However, a lack of State legislation for a credit system had impeded the city s construction of the enterprise credit system, Nanfang Daily reported.
Consequently, companies, government departments and judicial organizations would resist making their information public, citing different reasons.
There are no laws governing the use of credit information or punishment for malpractice.
The city would strive to introduce legislation controlling credit information in the next five years.
In addition, the city would give all government departments access to the credit data base while seeking to establish a mechanism to share information with big cities such as Beijing, Shanghai and Guangzhou.
Companies with poor credit records would be exposed on the Internet.
(Martin Li)
