Qinghai to drive innovation by applying social credit to venture capital firms

The social credit system is set to play a large role in Qinghai’s drive to stimulate innovation and entrepreneurship in the province.
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Social credit is set to play a big role in Qinghai’s new plans to stimulate innovation and entrepreneurship in the province.

In an April 29 policy, the provincial government announced plans to “establish and improve” the credit records of venture capital capital management companies and their employees, and incorporate venture capital credit information into the National Credit Information Sharing Platform, China’s master social credit database.

The policy includes calls to apply the Unified Rewards and Punishments system in the field of venture capital, and for the creation of a credit classification system for funders.

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See how this fits into the bigger social credit picture in our free report, Understanding China’s Social Credit System.

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