China will attempt to fully implement the category-based management of corporate credit risks in its market regulation system within three years, the State Administration for Market Regulation (SAMR) said on Tuesday.
A staff member receives a credit repair application filed by an enterprise representative at a tax bureau service center in Taijiang District, Fuzhou, southeast China's Fujian Province, July 21, 2020. (Xinhua/Song Weiwei)
Fully advancing the category-based management of corporate credit risks will help foster an innovative system to strengthen market supervision, SAMR deputy head Pu Chun said, noting that the move is very important to building a credit-oriented business environment.
Differentiated regulation measures implemented for enterprises with different credit risk categories will help realize effective and fair regulation, and stimulate the vitality and creativity of market entities, Pu said.
SAMR last month released a guideline for promoting the category-based management of corporate credit risks, detailing specific measures to further improve regulation efficiency.
According to the guideline, supervision over key areas such as food, drugs and special equipment, as well as the monitoring of and early warning over abnormalities in enterprise operations will be strengthened.
