In the News: China Reveals Social Credit Regime; Second Wave of Property Market Support; and UK Blocks Chinese Chipmaker Deal

December 01, 2022 | BY

Susan Mok

New social credit draft law raises concerns for foreign companies; CSRC lifts ban on property M&A and refinancing; and U.K. government unwinds a completed transaction for the first time.

Credit: makibestphoto/Adobe Stock

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New Draft Law Provides More Details on Untrustworthiness

The National Development and Reform Commission issued the PRC Law on the Establishment of the Social Credit Regime (Draft for Public Comments) (中华人民共和国社会信用体系建设法（向社会公开征求意见稿）) on November 14. The Draft proposes a reward and penalty mechanism encouraging government authorities and market entities to provide incentive rewards to good credit persons or companies while those with bad credit records will face government penalties.

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