China’s social scoring system is now affecting companies too
The Social Credit System for Chinese citizens has already blocked the sale of some 26 million train and plane tickets. Soon, companies will also have to abide by a stringent set of some 300 instructions, or risk being blacklisted.
In a report released in August, Jörg Wuttke, President of the European Union’s Chamber of Commerce, said that China’s Social Credit System (SCS) could “make life or death decisions for foreign companies in China”. The report, commissioned by the Chamber of Commerce and written by Sinolytics, a European consulting firm specializing in China, provides grim prospects.