China is now compiling an “unreliable entity” list to sanction foreign firms who hurt Chinese companies for non-commercial reasons, a response to sanctions from the United States against Chinese telecommunications equipment giant Huawei. Photo: AFP

China pushing ahead with controversial corporate social credit rating system for 33 million firms

  • National Reform and Development Commission has completed its initial assessments, which will be used to label firms excellent, good, fair or poor
  • Foreign firms fear they will be targeted in the event of a trade dispute or to give domestic firms a commercial advantage
Topic |   China economy

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China is now compiling an “unreliable entity” list to sanction foreign firms who hurt Chinese companies for non-commercial reasons, a response to sanctions from the United States against Chinese telecommunications equipment giant Huawei. Photo: AFP
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Home to 5,000 foreign enterprises – many of them exporters – Suzhou Industrial Park saw its exports decline 10 per cent over the first seven months of 2019 compared to a year earlier. Imports, meanwhile, have fallen 15 per cent. Photo: Handout

Trade war and economic slowdown leave giant Chinese industrial estate scrambling to keep foreign companies

  • Spanning an area five times the size of Manhattan, Suzhou Industrial Park contributed 14 per cent of Suzhou’s economy in the first seven months of 2019
  • Trade war has hit exports and forced some companies to leave, but government subsidies and shift in production patterns convincing some to stay in China
Topic |   China economy

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Home to 5,000 foreign enterprises – many of them exporters – Suzhou Industrial Park saw its exports decline 10 per cent over the first seven months of 2019 compared to a year earlier. Imports, meanwhile, have fallen 15 per cent. Photo: Handout
READ FULL ARTICLE