Shandong Haohua Tire and Weifang Huadong Rubber got unsecured loans because of their excellent credit history through recent years.
The Weifang Shouguang branch of Evergrowing Bank has loaned 80 million yuan to each company. The loan was completed after Evergrowing Bank’s research on the two company’s information on the public credit recording platform.
China has been paying great attention to credit recording in recent years. President Xi Jinping mentioned credit platform construction more than once in his report to the 19th National Congress of the Communist Party of China on Oct. 18.
The related departments in China have already made public a list of people with dishonest behaviors.
According to China’s rules, people on the list can be punished in various occasions. They may face restrictions when taking planes and trains, booking hotels, buying real estate and cars, travelling, or in their children’s education.
For the incorrigible ones, the court will impose fines, detention, criminal responsibility investigation and other coercive measures.
Shandong Province activated an evaluation system on March 1st to value the environmental credits of the local companies.
The evaluation system adopts negative points and annual scoring. Companies without any points for one year will have a green label. Those who record less than 11 points will be marked yellow, and the red label will be given to companies with more than 11 points.
The Environmental Protection Department of Shandong has promised to regularly report the evaluation results to related departments including the provincial Development and Reform Commission, the provincial Economic and Information Technology Commission and the Ji’nan branch of the People's Bank of China.
