Beijing to finish credit system by 2020

[Photo/IC]

Beijing will complete the legislative work on regulations of the social credit system by 2020, said a senior official of the capital at a press conference on Monday.

Tan Xuxiang, head of the Beijing Municipal Commission of Development and Reform, said by then, Beijing will establish a public credit information service platform covering all the permanent resident population in the city.

"It's one of the measures to create a fair market for businesses in the city," he said.

During the press conference, the authority also released a series of measures to improve Beijing's business environment including raising the level of international employment agencies and strengthening the market supervisions.