Consumers and businesses can now check the credibility of some 50,000 companies in the Shanghai region on a new online platform. It is the first platform of its kind in China and is likely to be copied in other cities.
The new Shanghai Commerce Credit Platform is a trial version, currently available in Chinese language only. According to the Shanghai Daily, anyone can find credibility information of a company via shcredit.gov.cn.
The information offers data from both the government and the market. It includes companies’ various licenses and track records, awards and fines as well as market ratings. Industry associations like the Association for Pre-paid Cards, as well as ratings from third-party companies like Yihaodian.com are cooperating in the initiative.
The Shanghai Commission of Commerce, who initiated the platform, plans to launch an app soon, with more companies, including foreign-invested firms, to be included on the platform and share more information.
Further reading on shanghaidaily.com