Core Viewpoint - The "Twelve Measures for High-Level Creation of Credit Economy Pilot Zone" aims to accelerate the establishment of a credit economy pilot zone in Qianhai, focusing on industrial chains, internationalization, and ecological circles to enhance the quality of credit services in the region [1][2]. Group 1: Policy Objectives - The policy is designed to implement national requirements for creating a credit economy pilot zone, enhancing cross-border credit cooperation with Hong Kong and Macau, and promoting the development of the credit service market in the Guangdong-Hong Kong-Macau Greater Bay Area [1][2]. - It emphasizes the importance of government, market, and social collaboration in building integrity and aims to guide society in continuously exploring the value of credit [1]. Group 2: Industry Development - The "Twelve Measures" focuses on guiding compliant development in the credit service industry by allowing businesses to expand their operational scope to include credit investigation, credit control consulting, and credit technology [2]. - It supports innovation in credit application scenarios and provides financial support of 500,000 yuan for exemplary cases recognized at the national level [2]. Group 3: Internationalization Efforts - The policy encourages cross-border initiatives by establishing a data platform between Shenzhen and Hong Kong, offering up to 3 million yuan annually to credit service institutions that effectively manage credit risk and provide comprehensive credit information reports [2]. - Future credit reports and rating products from Hong Kong and Macau institutions may benefit from mutual recognition of standards, data, and products, reducing the "credit proof cost" for enterprises operating across borders [2]. Group 4: Ecological Development - The "Twelve Measures" supports the establishment of an ecological credit development environment by incentivizing credit service institutions to participate in standard-setting and providing up to 1 million yuan for leading international standard development [3]. - It promotes the creation of industry exchange platforms in Qianhai, encouraging events that facilitate information exchange and innovation in the credit sector [3]. Group 5: Industry Insights - Dun & Bradstreet highlights existing barriers in the flow of cross-border credit information in the Greater Bay Area, emphasizing the need for high-quality commercial credit data to enhance marketing precision, risk identification, and credit management [3]. - The new policy aims to address these challenges by establishing a compliant flow mechanism for cross-border credit information, thereby supporting the construction of the credit economy pilot zone in Qianhai [3]. Group 6: Unique Aspects of the Policy - The "Twelve Measures" is noted as the first comprehensive support policy for the credit service industry in China, characterized by a market-driven, enterprise-led, and government-guided approach, distinguishing it from other regions' government-driven models [4]. - The introduction of the concept of "credit control service institutions" is expected to facilitate China's participation in international credit cooperation and address challenges in the international credit field [4].

Core Insights - The collaboration between Wind Information and regional equity trading centers in Beijing and Shanghai marks a significant advancement in shareholder registry services, enhancing transparency and information accessibility in the equity market [1][4]. Group 1: Strategic Collaboration - Wind Information has established strategic partnerships with Beijing Equity Exchange and Shanghai Equity Custody Trading Center, indicating a breakthrough in shareholder registry and transparency initiatives [1]. - This partnership allows companies to authorize the public disclosure of their shareholder registries, which will be updated in real-time through Wind's enterprise database, enhancing the recognition of shareholder rights [2][4]. Group 2: Information Transparency - The public disclosure mechanism of shareholder registries addresses information asymmetry issues faced by small and medium-sized enterprises during equity transfers and financing [2]. - The collaboration aims to create a more favorable market environment for corporate financing and capital matching by improving the efficiency of information retrieval [4][6]. Group 3: Wind Information's Role - Wind Information, established in 2016, offers a range of compliance-based credit products, including global enterprise databases, risk monitoring, and various credit reports, supporting financial institutions and large enterprises in due diligence and risk assessment [5][7]. - The company aims to further empower the capital market and support the real economy by enhancing the application of shareholder registries and information disclosure [6]. Group 4: Data and Technology Advantages - Wind Information boasts a vast database covering over 350 million enterprises globally, providing comprehensive corporate profiles that include ownership structures, executive teams, and financial data [7][8]. - The company emphasizes its commitment to data quality and timely updates, leveraging over 20 years of technological expertise in data management and analysis [8].

Group 1 - The province has focused on guiding financial institutions to actively support small and micro enterprises, resulting in a total of 1.29 million small and micro enterprises identified with financing needs and a credit issuance of 208.7 billion yuan, with 165 billion yuan disbursed as loans [1] - As of June this year, the balance of inclusive small and micro loans in the province reached 473.1 billion yuan, representing a year-on-year growth of 21.5%, which is 8 percentage points higher than the beginning of the year and exceeds the national growth rate of 9.2% [1] - The province has established working groups to enhance support for key industries and regions, particularly focusing on foreign trade and private enterprises, with 11 key support measures proposed for financing in the foreign trade sector [1] Group 2 - The province has introduced 17 measures to improve the financing connection for private enterprises, focusing on enhancing the quality of outreach, innovating financial products, implementing credit support policies, and solidifying service guarantees [2] - An online financial product supermarket has been established to facilitate enterprises in understanding various credit products offered by financial institutions [2] - A unified online platform for financing needs has been created, allowing enterprises to submit their information and financing requests through a streamlined process [2] Group 3 - The province is building a unified financing credit service system, collecting over 1.15 million credit information records and achieving over 6.5 million queries on the "Credit Liaoning" website [3] - The provincial tax bureau has integrated tax credit evaluation results into the credit loan mechanism, allowing tax credit to replace traditional collateral, thus promoting low-cost credit [3] - In the first half of this year, the "Bank-Tax Interaction" initiative facilitated 28,000 loans for trustworthy enterprises, amounting to 37.7 billion yuan [3] Group 4 - The province has guided banks to streamline and eliminate unreasonable restrictions in credit approval processes for private and small enterprises, delegating credit approval authority to grassroots institutions to enhance efficiency [4] - The policy for non-repayment renewal loans has been expanded to include all small and micro enterprises, allowing eligible borrowers facing temporary financial difficulties to apply for renewal support [4] - In the first half of this year, the total amount of non-repayment renewal loans issued by banks reached 99.23 billion yuan, benefiting over 43,000 borrowers [4]

Group 1 - The new credit reporting service fee standards will save users approximately 1.1 billion yuan annually starting from July 1 [1] - From July 1, 2025, the baseline service fee for commercial banks querying corporate credit reports will decrease from 20 yuan to 9 yuan, and for personal credit reports from 2 yuan to 1 yuan [1] - Certain financial institutions, including rural commercial banks and consumer finance companies, will benefit from preferential pricing, with corporate credit report fees set at 4.5 yuan and personal credit report fees at 0.5 yuan [1] Group 2 - Individuals can query their credit reports for free online, and the first two queries at a physical counter are also free, with subsequent queries reduced from 10 yuan to 5 yuan [2] - The fee for accounts receivable pledge registration will be halved from 30 yuan to 15 yuan, and other registration fees will also see significant reductions [2] - The reduction in credit reporting costs is expected to lower overall financing costs for financial institutions, which could benefit small and medium-sized financial entities significantly [2]

Group 1 - The "National Network Identity Authentication Public Service Management Measures" will be implemented from July 15, allowing individuals with valid legal identification to voluntarily apply for a network number and network certificate [1] - The "Labor Ability Appraisal Management Measures" will take effect on July 1, standardizing the labor ability appraisal for injured workers and those with disabilities, emphasizing convenience and reducing unnecessary documentation [3] - The "Individual Business Registration Management Regulations" will be effective from July 15, enabling individual businesses to transition to enterprises while retaining key information, thus facilitating the transformation and reducing costs [5] Group 2 - The "Tax Payment Credit Management Measures" will be implemented on July 1, incorporating social security fees and non-tax revenue into credit evaluations, optimizing the evaluation indicators and standards for credit restoration [7] - The mandatory national standard "Hygienic Requirements for Disposable Sanitary Products" will be effective from July 1, specifying health risk levels and adjusting various safety requirements for different disposable sanitary products [9] - From July 1, the service fee for querying corporate credit reports will be reduced from 20 yuan to 9 yuan, and for personal credit reports from 2 yuan to 1 yuan [11] Group 3 - The China-Azerbaijan visa exemption agreement will come into effect on July 16, allowing holders of valid ordinary passports to stay for up to 30 days per visit without a visa [13] - The Beijing local standard "Tent Camping Site Facilities and Service Specifications" will be officially implemented on July 1, outlining requirements for camping areas [15] - Starting July 1, the unemployment insurance payment standards in Shanghai will be adjusted, increasing the payment for the first 12 months to 2305 yuan per month [17] Group 4 - Xiamen, Fujian, will adjust the housing provident fund contribution base and monthly limits, with the upper limit for the contribution base set at 32,346 yuan and the lower limit at 2,265 yuan, effective from July 1, 2025 [18]

Core Viewpoint - The National Development and Reform Commission has announced a significant reduction in credit service fees, which is expected to save users approximately 1.1 billion yuan annually [1][3]. Summary by Sections Fee Reductions - Starting from July 1, 2025, the standard service fee for commercial banks and other institutions to query corporate credit reports will decrease from 20 yuan to 9 yuan per report, while the fee for personal credit reports will drop from 2 yuan to 1 yuan [2]. - The fee for accounts receivable pledge registration will be reduced from 30 yuan to 15 yuan per item per year, and the fees for change registration and dispute registration will be lowered from 10 yuan to 5 yuan per item per occurrence [2]. - Rural commercial banks and ten other types of financial institutions will continue to enjoy preferential fee standards for querying corporate and personal credit reports, with domestic trade insurance underwriting institutions also included in the preferential range [2]. User Benefits - Individuals can query their own credit reports for free via the internet, and the first two queries at a physical counter each year will also be free. Starting from the third query, the fee will be reduced from 10 yuan to 5 yuan per query [2]. Implementation and Oversight - The National Development and Reform Commission emphasizes that the credit center must strictly adhere to the newly established fee standards. It is required to submit an annual audited financial report, along with details on revenue, expenditure, business volume changes, and fee standard compliance to the National Development and Reform Commission by the end of April each year [3]. - The commission will adjust the service fee standards for the credit center based on principles of cost compensation and revenue balance, considering factors such as business growth and service cost changes [3].