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Home > Home» News and Events» Zhongguancun Credit Report popular among Multinationals
 
Zhongguancun Credit Report popular among Multinationals
Editor: Source: 2002-04-30

Zhongguancun Credit Report popular among Multinationals

 

According to the information released by four appointed credit rating agencies in Zhongguancun, most multinationals adopt the credit rating system when they come to China to do business.

The trial operation of the credit rating system in Beijing was first started in Zhongguancun from Dec.1, 2001. It is reported that over 160 credit reports have been sold within the first three months, of which, 100 were credit reports and 60 were specially made for an appraisal activity. Statistics shows that more than ten Zhongguancun-based enterprises accomplish an annual turnover exceeding RMB1 billion, including Nokia, Legend, Digital China, Golden Great Wall, Tsinghua Tongfa, Panasonic, Lucent, HP, Microsoft and Founder, etc. Most of the above mentioned enterprises adopt the credit rating system, especially those from US, Europe and Taiwan.

A typical preliminary credit rating report contains twenty-six major categories and 126 indexes, and the charge is merely thousands of RMB. Even the top class credit rating report is charged within hundred thousand RMB. "The cost is not the problem, it is necessary for China to have the related laws and regulations on credit." some domestic enterprises say.

On this circumstance, Zhongguancun Administration Commission is considering to use government influence to motivate more domestic enterprises to use "credit rating product". "Credit rating product" can be classified into several categories according to the different rating level. The credit rating product should become a necessary requirement for every enterprise engaged in the market activities.


 
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