Shenzhen City, Administration of Enterprise Credit Information Collection and Credit Rating Measures

Issued: November 19 2002
Effective: January 1 2003
Applicability: These Measures apply to the collection and use of enterprise credit information, commencement of enterprise credit rating, consultation services and such other activities within Shenzhen. For the purpose of these Measures, an "enterprise" means a for-profit economic organization with or without a legal person status that is duly registered with an administration for industry and commerce (Article 2).

Main contents: The credit information institutions and the information providing work units, the users and their working personnel shall keep such information confidential in the process of use, except the disclosure permissible by the law, to the extent provided by these Measures and within their professional duties (Article 6).
The municipal government shall establish a Shenzhen enterprise credit information centre (credit centre) to collect enterprise credit information and provide enquiry services to the public (Article 9). The credit information to be collected by the credit centre includes the enterprise credit information that is held by the municipal government and judicial authorities and administrative institutions, obtained by the financial institutions in Shenzhen in the course of financial activities, and obtained by industry associations, public utilities and intermediaries in the course of their services. (Article 13). Financial institutions must provide information that involves an enterprise' evasion of bank debts to the credit centre (Article 15). The work unit that provides the information to the credit centre shall be responsible for the truthfulness of the information (Article 16). Credit information collection institutions shall record the use of the credit information including time and subject, etc. and keep the records for two years (Article 22).
A rating institution shall be established in the form of a limited liability company or company limited by shares and shall be registered with an administration for industry and commerce (Article 10). The rating institution may collect the information from the credit centre, the enterprises from which the information is collected or their counterparts of transactions and the reports of the mass media, etc. (Article 14). For enterprise credit information that is not yet disclosed according to the law, the consent of the enterprise from which the information is collected shall be obtained.
Article 30 sets out the maximum terms for enterprise credit information disclosure, for instance, five years for records of business licence revocation, 10 years for bankruptcy and 10 years for evasion of debts.
Related legislation: Shenzhen City, Administration of Personal Credit Information Collection and Credit Rating Measures, Dec 18, 2001, CLP 2002 No.2 p59