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The Corporate Social Credit System: What It Means for Your Company
November 12, 2019 @ 6:30 pm - 9:00 pm
Dear Members and Friends of SwissCham,
The Chinese government, with the National Development and Reform Commission (NDRC) as key coordinator, the State Administration for Market Regulation (SAMR) and many other central-government authorities as key implementers and the local governments empowered for implementation and some tailor-making and experimentation, is accelerating the build-up of an ambitious and technology-enabled new regulatory framework: the Corporate Social Credit System (CSCS; 社会信用体系).
The CSCS is a concept that describes the fast evolving and heterogeneous regulatory body consisting of ratings and a broad set of requirements dispersed over more than 1500 policy documents. The CSCS collectively builds towards creating a full 360-degree view of all enterprises operating in the Chinese market, including foreign owned enterprises. It consolidates corporate ratings and compliance records from all administrative and regulatory domains relevant for corporate operations (e.g. environment, tax, cybersecurity, work safety, product quality or customs authentication) with individual rating data of legal representatives into comprehensive assessments.
Some outcomes of these assessments will be deliberately made accessible to the public, e.g. flagged business irregularities, blacklistings or revoked licenses. A set of 50+ MoUs concluded between central government agencies (e.g. MoT, STA, GAC, SAMR) is the enabler of this extensive transversal information sharing mechanism and the so-called “joint punishments or rewards”, where a negative corporate rating or compliance record in one domain can be co-enforced by multiple agencies leading to strongly amplified administrative consequences.
Although MNCs’ current internal compliance systems, especially compared with their Chinese counterparts, are generally perceived to be more effective, strategic adjustments will nonetheless be required to tackle the challenges arising from the holistic nature of this new system. Sinolytics, leveraging on its extensive research on this topic as well as its practice from advising leading European MNCs, has recently published a joint report (“The_Digital_Hand – How_China’s_Corporate_Social_Credit_System_Conditions_Market_Actors”) with the European Chamber of Commerce in China (EUCCC) about the CSCS and in particular its strategic implications on foreign companies.
About the speakers:
Markus Herrmann 陈瑞华
Markus Herrmann, Director, is an experienced advisor to European corporate and public sector clients focusing on business-policy nexus topics including regulatory ratings/CSCS, the Belt and Road Initiative, policy-based growth strategies, technology transfer- and partnerships or government affairs strategies. He combines deep business understanding with policy expertise and six years working experience in China. Prior to Sinolytics, Markus worked as a Government Affairs & Advocacy Director with Bayer MaterialScience (now: Covestro) in China and as Management Consultant with The Boston Consulting Group in its Shanghai, Hong Kong and Zurich offices, focusing on financial services and industrial goods. Markus holds a MLaw from the universities of Bern and Geneva as well as a CAS in Public Policy from ETHZ.
Sinolytics is a European research-based consultancy entirely focused on China – Sinolytics is based in Berlin and Zurich with teams operating from Beijing and Shanghai. It provides in-depth research, expert analysis and strategic advice at the nexus of business and policy. We consult international firms, investors and the public sector, enabling well-informed China strategy development and decision-making. Sinolytics puts a special focus on the opportunities and challenges arising from China’s rapid technological and digital transformation. Sinolytics also provides deep expertise on China’s economic, industrial and technology policies and regulation, including new forms of big data enabled business regulation and regulatory ratings.
Date & Time 日期及时间
18:30—21:00, Tuesday, 12 November 2019
18:30 – 19:00 Registration
19:00 – 20:00 Presentation
20:00 – 20:15 Q&A
20:15 – 21:00 Networking with finger food
Prices 价格 (Prepayment is required)
- Member: RMB 200/guest 会员价
- Non-member: RMB 300/guest 非会员价
RSVP Deadline 报名截止日期
Please register by November 11, 2019 请在2019年11月11日前登记
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