Shanghai designates special fund for social credit system buildout

The city of Shanghai has established a fund specifically to support projects related to constructing their social credit system. The fund will focus on the construction, information dissemination, development, and optimization of the system. 
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The city of Shanghai has established a fund specifically to support projects related to the construction of the social credit system locally. The fund will focus on the construction, information dissemination, development, and optimization of the system. 

    The fund will be used to support social credit-related projects undertaken by industry associations, companies and other institutions that relate to:

  • The construction of credit platforms in the fields of government, society, commerce, and justice
  • Credit classification and evaluation research, the formulation of credit standards, and formalizing procedures for applying social credit to a specific field or industry
  • Innovation in credit services, like the development of credit risk control models, credit evaluation technologies
  • Credit publicity and demonstration initiatives

Some specific limitations on the fund allocation:

  • Fund allocation cannot exceed 50% of the total cost of a project
  • Fund allocation cannot exceed RMB 1 million
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