Inner Mongolia encourages enterprise credit application, identification
The Inner Mongolia Development and Reform Commission recently issued the "Inner Mongolia Autonomous Region Credit Enterprise Management Measures (Trial)", which includes detailed regulations on the management models, incentive measures and supervision methods of credit enterprises.
The measures aim to promote high-quality business development and create an honest and trustworthy market environment.
Inner Mongolia started making such moves in 2019.
Recognition of enterprises with excellent comprehensive credit is not limited to the scale of the enterprises, the time of declaration, or the cities and leagues where they are located.
Relevant entities can apply through the "Credit Inner Mongolia" website and the "Inner Mongolia Credit Promotion" website.
Qualified enterprises are included in the "Credit Enterprise Bank" of Inner Mongolia, and enjoy various preferential policies such as financing, leasing, purchase and logistics facilities. They also get free enterprise training and media promotion.
Statistics from the Inner Mongolia Social Credit Management Center show that credit enterprises in Inner Mongolia are divided into three levels, from low to high: credit standard enterprises, credit model enterprises and credit benchmark enterprises.
Enterprises rated as A-level or higher by capital market credit rating agencies can apply to become a benchmark enterprise for integrity.
To date, 996 enterprises in Inner Mongolia have been recognized as credit enterprises, of which 499 are credit model enterprises and 497 are credit standard enterprises.
The government of Inner Mongolia is encouraging enterprises to upload evidential materials such as market operations, contract performances and social welfare to improve their credit level.
It also advises that credit model enterprises and credit benchmark enterprises shall set up corporate credit management positions and be responsible for annual credit applications and material upgrades.