China revised business social credit regulations, introducing a restoration system, streamlining inactive business exit, and increasing penalties for information disclosure violations.
China updated its business social credit regulations for a stronger credit-based enterprise system. These revisions include establishing a business social credit restoration system, streamlining the exit for inactive businesses, and increasing penalties for information disclosure violations. The aim is to regulate information practices and build a market environment based on honesty and trust.
April 01, 2024
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