(Promulgated on March 17, 2005 by Decree No. 49 of the Shanghai Municipal People's Government)

Article 1 (Purpose)

For the purpose of normalizing and promoting the collecting of information relating to the credit standing of enterprises, safeguarding the fairness and impartiality in carrying out the collecting of information relating to the credit standing of enterprises, building the credit system of enterprises and creating an environment of social credit, these Procedures are formulated.

Article 2 (Definition)

The collecting of information relating to the credit standing of enterprises mentioned in these Procedures refers to the operational activities that provide products related to credit-information-collecting such as investigation, appraisal or rating reports relating to the credit standing of enterprises by collecting and processing information relating to the credit standing of enterprises entrusted by citizens, legal entities or other organizations.

A credit-information-collecting agency mentioned in these Procedures refers to a lawfully established agency that is specialized in the collecting of information relating to the credit standing of enterprises.

The information relating to the credit standing of enterprises mentioned in these Procedures refers to the information that has formed in the economic and social activities of enterprises and can be used to analyze or judge the credit standing of such enterprises.

Article 3 (Application Scope)

These Procedures shall apply to the collecting of information relating to the credit standing of enterprises and the supervision and administration thereof in this Municipality.

Article 4 (Principles)

The collecting of information relating to the credit standing of enterprises in this Municipality shall practice market operation, government supervision and trade self-discipline.

Independence, objectiveness, impartiality and prudence shall be observed in carrying out the collecting of information relating to credit standing of enterprises so as to ensure the accuracy of products related to credit-information-collecting. The collecting of information relating to the credit standing of enterprises shall not harm the legitimate rights and interests of enterprises, and shall not offend against the public interests and public safety.

Article 5 (Administrative Department)

The Shanghai Municipal Office for the Administration of the Collecting of Credit Information (hereinafter referred to as the Municipal Credit Information Collecting Office) shall be responsible for the promotion, guidance and supervision of the trade for collecting information relating to the credit standing of enterprises.

Relevant administrative departments shall, according to their own functions and duties, cooperate in carrying out the professional guidance and supervision of the collecting of information relating to the credit standing of enterprises.

Article 6 (Reporting for the Record and Making Public)

A credit-information-collecting agency shall, within 30 days following the date at which the industrial and commercial business license is obtained, report to the Municipal Credit Information Collecting Office for the record. The following material shall be submitted for reporting for the record:

1. The industrial and commercial business license (duplicate copy);

2. The explanation of the structure of stock ownership and the organizational structure;

3. The certificates of the credit standing of senior management personnel and the introduction of basic information of relevant professional personnel; and

4. The business scope in carrying out the collecting of information relating to the credit standing of enterprises, the information processing procedures and the cautious measures for information safety.

In case that the contents reported for the record provided in the preceding Clause alter substantially, such alteration shall be reported to the Municipal Credit Information Collecting Office for the record within 30 days after such alteration.

The Municipal Credit Information Collecting Office shall make public relevant information reported for the record according to law.

Article 7 (Annual Report and Investigation of Business Development)

A credit-information-collecting agency shall, in the first quarter of that very year, report to the Municipal Credit Information Collecting Office the business development of the collecting of information relating to the credit standing of enterprises in the preceding year and the adjustment of the business of collecting of information relating to the credit standing of enterprises in this year.

The Municipal Credit Information Collecting Office may organize the establishment of the feedback mechanism for the use of products related to credit-information-collecting to understand the objective evaluation of relevant business of credit agencies in the collecting of information of credit standing.

Article 8 (The Collecting of Information)

A credit-information-collecting agency shall, by lawful means, collect information relating to the credit standing of enterprises, and shall not collect information relating to the credit standing of enterprises by such means as deceit, theft, coercion or by other illegal means.

Article 9 (Handling Disagreement on Information)

A credit-information-collecting agency shall, when the enterprise whose credit standing is collected disagrees on the information relating to its credit standing and provides relevant material, conduct a verification; in case that the information collected is really wrong, a correction shall be made without delay; in case that the information is correct, the enterprise whose credit standing is collected shall be notified; in case that the verification is difficult to conduct, the credit-information-collecting agency shall handle cautiously in accordance with the principle of objectiveness.

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