CPPCC members who are attending an annual gathering here have called for the establishment of a social credit system in the country.
China should enact a law on social credit information and set up a national credit data bank to form a social credit system, said Lin Yifu, a member of the Ninth National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body.
Lin, who is also director of the Chinese Economy Research Center of prestigious Beijing University, said that the socialist market economy is one under the rule of law, so it is necessary to enact a law for the establishment of a social credit system.
Speaking at a press conference held by the Fifth Session of the Ninth CPPCC National Committee, Liu stressed the role of media supervision in establishing a good social credit system which protects people with good credit recordings and makes bad persons pay a price.
Gao Shangquan, a CPPCC member and president of the economic restructuring research society, shared Lin's view and said that a good social credit system will also help solve problems currently prevailing in China's securities market.
(People's Daily March 10, 2002)