21:08, 25-Feb-2018
Social Credit System: Charity donations now included in system, rewards and punishments defined
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Charity donations are now to be included within China's social credit system, for companies and various organizations. Earlier this month, 40 departments under the Ministry of Civil Affairs signed a memo, stating that rewards and punishments, will be handed out to companies and organizations, in respect to their corporate social responsibility.
The memo specifies 26 rewards and 24 punishments. Organizations' credit history will also be used as reference material for banking and financial services. Companies with bad social credit, will face limited governmental purchase activities, and limited rights when bidding on land. Those companies may also be restricted from having their staff travel by air or even high-speed rail.