China Has Just Released a Draft National Social Credit Law

 The Chinese government has released a draft law on the Establishment of the Social Credit System

• This is the first attempt to systematically codify past experiments on social credit and, theoretically, guide future implementation.
• The law largely follows local rules that Chinese cities like Shanghai have released and enforced in recent years on things like data collection and punishment methods - just giving them a stamp of central approval.

Social Creditworthiness

• To date, the national government has built only a system focused on companies, not individuals, which aggregates data on corporate regulation compliance from different government agencies.
• The central government has given little guidance on how to build a social credit system that works in non-financial areas, even in the latest draft law, it has opened the door for cities and even small towns to experiment with their own solutions.

How will a social credit system affect Chinese people’s everyday lives?

• The idea is to be both a carrot and a stick
• An individual or company with a good credit record in all regulatory areas should receive preferential treatment when dealing with the government
• At the same time, individuals or companies with bad credit records will be punished by having their information publicly displayed, and they will be banned from participating in government procurement bids

https://expose-news.com/2022/11/23/china-has-released-draft-national-social-credit-law/