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BenCham Lunch Seminar in cooperation with Ecovis: Social Credit System Seminar
China's Social Credit System has been making the News in the West. However, in most cases the focus is solely on the rating of citizens behaviour. What is often overlooked is one of the system's original purposes, i.e. the creation of a comprehensive rating system for companies. Such a network will enable the Chinese government to enforce regulations on companies in China more efficiently. This is happening already – through the collection of massive amounts of company data, which will be made available to government entities and partly to the public. The ratings and subsequent possible inclusions of companies on blacklists or redlists have the potential to significantly impact future business in China.
During this seminar, Mr René Bernard of Ecovis Beijing will give an overview of the potential future implications of the Social Credit System on companies, with a special focus on the tax and legal aspects of the matter. Furthermore, Mr Bernard will also tackle the question of what actions should foreign investors take in order to prepare for the coming changes.
