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Economy

HOME > Economy


Credit economy to fuel social governance innovation and digital economy development

June 11, 2018


Abstract : Entities with a sound credit record can enjoy benefits everywhere and integrity makes city a more convenient place, said Lian Weiliang, deputy director with the National Development and Reform Commission (NDRC).

lian

Photo: Lian Weiliang, deputy director with the National Development and Reform Commission (NDRC), delivers a speech at the Forum for Credit System Construction of Chinese Cities held on June 10-11 in Fuzhou.

FUZHOU, June 11 (Xinhua) -- In Fuzhou, citizens can gain credibility points when making a purchase via "Fu code", and high scores can enjoy the convenience of deposit-free services and preferential discounts. Entities with a sound credit record can embrace benefits everywhere and integrity makes city a more convenient place, said Lian Weiliang, deputy director with the National Development and Reform Commission (NDRC).

Lian made the remarks at the Forum for Credit System Construction of Chinese Cities held on June 10-11 in Fuzhou, the capital city of southeast China’s Fujian province.

zhang

Photo: Zhang Zhinan, vice governor of Fujian province, delivers a speech at the Forum.

With the main theme of “Better credit, better life”, the forum focuses on building credit for the benefits of the people, and upholds the principle of greenlighting those who have sound credit record while restricting those who fail to do so. This could help improve resource allocation efficiency, stimulate urban development vitality, improve city governance, and optimize business environment, Zhang Zhinan, vice governor of Fujian province, said during the forum opening ceremony.

Ruan

Photo: Ruan Xiaoying, deputy mayor of Fuzhou, delivers a speech at the Forum.

Fuzhou has been working on building itself into a mobile payment model city and pushing forward the integration of digital and credit economy, said Ruan Xiaoying, deputy mayor of Fuzhou, noting that the development of credit economy would become new driving force for social governance innovation and digital economy development.

Xu

Photo: Xu Yuchang, board chairman and president of China Economic Information Service (CEIS), delivers a speech at the Forum.

As one of the major activities, Xu Yuchang, board chairman and president of China Economic Information Service (CEIS), released "Chinese Cities Credit Construction Annual Report (2017-2018)" during the forum.

Urban credit system construction is exerting more and more positive influence upon people’s daily life, business growth, and urban development with credit applied to wider scenarios, according to the report.

The forum also saw the launch of Urban Credit Big Data Platform by Xinhua Credit, a credit service platform undertaken by Xinhua's subsidiary CEIS.

The platform uses the city as a credit entity to help cities build a social credit monitoring platform, gather more social resources to promote urban credit applications, build a city-specific credit service system, and promote the use of credit to benefit the citizens, enterprises and the government.

Xinhua Credit will work with Chinese cities to advance credit application scenario innovation, Xu said.

kuang

Photo: Kuang Lecheng, vice president of CEIS, delivers a speech at the Forum.

CEIS will further explore and use Xinhua Credit Urban Credit Big Data Platform and related services to contribute more to urban credit construction, said Kuang Lecheng, vice president of CEIS.

Cities and small- and medium-sized enterprises will see bright future as more and more intelligent cities and credit platforms have been landed, Chen Shengqiang, CEO with JD Finance, the financial subsidiary of China's leading e-commerce giant JD.com Inc, said at the forum opening ceremony.

Nowadays, China is taking the lead in digitization. In the digital era, the synergetic development of informatization, Software-as-a-Service (SaaS), mobilization, and Artificial Intelligence (AI) will bring new opportunities to the construction of a social credit system, said Chen.

Step from this forum, Fujian province will follow other cities’ examples to work towards “Credit Fujian”, making credit a real motivating force in driving social governance innovations, said Zhang.

As a national high-end forum for advancing social credit system construction, the annual Forum for Credit System Construction of Chinese Cities is directed by the NDRC and co-hosted by Xinhua News Agency and municipal governments.

This year, the event is hosted by Xinhua News Agency and Fuzhou government and undertaken by CEIS, Fuzhou municipal development and reform commission, Fuzhou Digital Office and JD Finance. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)


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