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Unified Social Credit Code Use Requires Mandatory Business Licence and Certification Updates

Businesses and a number of non-commercial enterprises will be obliged to secure new licenses and certification bearing the appropriate unified social credit codes in line with a new directive from The General Office of the National Development and Reform Commission (NDRC). The changed requirements are outlined in the Circular on the Use of Unified Social Credit Codes in Handling Relevant Business as recently released by the NDRC.

The key requirements, as they apply to commercial and non-commercial entities, are detailed below:

  • As of 1 January this year, the issuance of Organisation Code Certificates and business licenses without unified social credit codes was discontinued. All the new business licences bear the unified social credit code, as issued by the industry and commerce administration and the relevant market supervision departments. Any enterprises still holding a business licence that lacks a unified social credit code must update their licence forthwith. Their status as an approved business entity, however, remains unchanged,
  • In the case of government-backed public institutions, social organisations, foundations, private non-enterprise units, grassroots self-governing mass organisations and trade unions, they will be obliged to secure registration certificates bearing the appropriate unified social credit code from 30 June this year onwards.

For further details (in Chinese), please visit the following link:

Circular of the General Office of the NDRC on the Use of Unified Social Credit Codes in Handling Relevant Business (Fa Gai Ban Cai Jin No. 277 [2018])

Content provided by Picture: HKTDC Research
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