Wenzhou invites 26 YRD major cities with “credibility”

Riding the momentum of the 2024 Yangtze River Delta Major Leaders Symposium, Wenzhou, the“southern gateway” of the Yangtze River Delta (YRD), has extended an invitation to 26 YRD major cities under the banner of“credibility” to collaboratively build and share the results of“Credible YRD”.

Located at the intersection of the YRD city cluster and the Guangdong-Fujian-Zhejiang costal city cluster, Wenzhou is one of the first national demonstration cities for the construction of a social credit system. After a journey through challenges, the story of Wenzhou and integrity has continually been praised and acknowledged.

In 2002, Wenzhou was the first in China to designate credit as one of the city’s development strategies and established August 8 as the first regional Integrity Day in the country through a resolution of the Wenzhou Municipal People’s Congress Standing Committee. Over the past 20 years, the creation of“Credible Wenzhou” has made steady progress. The“most beautiful people of integrity” have emerged one after another, forming a solid and vivid existence of“Wenzhou of Credibility”. Integrity has become the city’s core culture, and the concept of“Doing business based on credibility, upholding justice while pursuing interest” has been embedded in the minds of merchants.

Wenzhou is famous for its commerce, with numerous private enterprises and 1.448 million registered business entities. In the first year of the second five-year period since the integrated development of YRD became a national strategy, Wenzhou’s invitation to its YRD“brother cities” and all sectors of society to jointly create a“Credible YRD” as a nationally leading, internationally connected, and globally recognized icon carries profound significance. As evaluated by the Administration for Market Regulation of Zhejiang Province,“this is a milestone event, marking a new stage and new journey for the integrated cooperation of credit regulation and services in the three provinces and one municipality of the YRD.”

“Integrity is the foundation of personal development, the key to business prosperity, the basis for social progress, and the soul of urban civilization.” The Wenzhou Initiative for Promoting the Joint Construction of“Credible YRD” advocates solid implementation of the strategies proposed by President Xi Jinping for credit building and integrated development of the YRD from four aspects of“co-cultivating credible subjects, co-setting rules and standards, co-governing a credit society, and co-shaping an integrity culture” to advance the major construction of the credit system for business entities and contribute to the high-quality integrated development of the YRD.

“We should guide each business entity to fully integrate integrity standards and compliance requirements into all aspects of production and operation, laying a concrete foundation for credit construction.

“We should establish and improve standardized, authoritative, and accurate credit archives, enhance quality management of data, and further improve the accuracy, timeliness, and completeness of credit data collection.

“We should promote the interaction and sharing of credit data in administrative, judicial, financial, and other fields, and apply credit products based on information sharing and big data development and utilization.

“We should promote the application of evaluation results and credit reports in economic development, administrative management, and social governance, and improve mechanisms for joint participation in incentivizing trustworthiness, penalizing dishonesty, and restoring credit…”

To implement the specific contents of the Initiative, Wenzhou has already been well-prepared:

In terms of the market regulation system, Wenzhou is putting forward the“one kind of affairs” integrated reform of the full life cycle management service and credit regulation of business entities. Through the National Enterprise Credit Information Publicity System, the credit information of 1.448 million local business entities has been collected, forming a“panoramic multidimensional picture”;

Wenzhou is implementing a new credit regulation model, promoting the application of the 4.0 version of the credit risk classification model, with 11 departments achieving graded and classified regulation in 22 key areas;

As a pilot area for the implementation of the National Electronic Business License (EBL) Application and Zhejiang’s Enterprise Code, Wenzhou has always been at the forefront for adopting the EBL Enterprise Code. Currently, more than 5,000 bank transactions in Wenzhou have been made through the utilization of the Enterprise Code. The Wenzhou Zone for the National EBL mini program has achieved 13 application scenarios, ranking first in the country.

At the new starting point, Wenzhou will continue to deepen the construction of the credit system to accelerate the joint construction of“Credible YRD” through exploring value-added reforms of government services and providing“one type of affairs” services for credit construction.(ZhongXin)