The German Chamber of Commerce in China – North China (German Chamber) and the European Union Chamber of Commerce in China (European Chamber) jointly invite you to attend this event on China's Social Credit System (SCS) on Wednesday 28th August, at the Kempinski Hotel Beijing Lufthansa Center.
China's Corporate SCS, the innovative and comprehensive vision of using modern technologies to monitor, condition and steer market participants, is moving decisively forward with its planned rollout in 2020. Until now, the discussion has focused primarily on the potential impact of the SCS on individuals in China, while the ramifications of the Corporate SCS have remained largely under the radar. To address this, the European Chamber has partnered with Sinolytics to publish a major report that details the acute disruptions that European companies will face, and what they must do to ensure compliance.
The widespread implications of the Corporate SCS include, for example: requirements for companies to regularly transfer corporate data, which will then be published and publicly available in national databases; tax ratings that are based not only on tax-specific requirements, but also individual ratings of responsible personnel, and even media reports about respective companies; companies' credit scores will be impacted by the ratings of their suppliers and business partners.
Are businesses prepared for this? What opportunities and challenges for companies are foreseen? What are the specific implications in the short and long term? And what developments are expected in the coming months?
European Chamber President Joerg Wuttke and Sinolytics CEO Björn Conrad will present the main findings of the report, and will then be joined in a panel discussion by German Chamber Chairman Dr Stephan Wöllenstein and Mirjam Meissner from Sinolytics to shed further light on the issue and share first-hand experiences.
CEO and Co-founder of SINOLYTICS
President at European Union Chamber of Commerce in China
Chairman at German Chamber of Commerce - North China
Director of Sinolytic
Kempinski Hotel Beijing Lufthansa Center
50 Liangmaqiao Rd, Chaoyang District, Beijing