国家市场监督管理总局：企业信用水平总体保持稳中向好的发展态势

Core Insights - The overall corporate credit index in China is showing a stable upward trend, with a value of 162.18 in Q4 2025, reflecting a slight increase of 0.52 points from Q3, although it is 0.11 points lower than Q2 [1] - The corporate credit index in December was recorded at 162.32, which is a decrease of 0.34 points from November [1] Group 1: Corporate Credit Levels - The corporate credit level in China is experiencing high fluctuations but remains at a historically high level, indicating a long-term positive trend [1] - In December, the top five regions for credit index were Anhui, Zhejiang, Chongqing, Shaanxi, and Tianjin, with overall stable performance [1] - Regions like Guangxi showed significant increases in their credit index, resulting in substantial ranking improvements [1] Group 2: Industry Credit Levels - All industries experienced a quarter-on-quarter increase in credit indices in Q4, with notable growth in finance, real estate, and leasing and business services [2] - The top five industries by credit index in Q4 were finance, education, electricity, heat, gas, and water production and supply, manufacturing, and water conservancy, environment, and public facilities management [2] - In December, there was a general pullback in industry credit indices, with finance, manufacturing, education, electricity, heat, gas, and water production and supply, and water conservancy, environment, and public facilities management leading the rankings [2]