Foreign companies will be required to hand over to Beijing more data for scrutiny. Illustration: Lau Ka-kuen
Why US businesses should be worried about China’s corporate social credit system
- Though it hasn’t been formally launched, the system has already been used to force international firms to adopt Chinese values on politically sensitive issues
- Punishments could include being denied access to cheap loans, higher import and export taxes and key personnel being prohibited from leaving China
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China's social credit system
Foreign companies will be required to hand over to Beijing more data for scrutiny. Illustration: Lau Ka-kuen