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The American Chamber of Commerce in China (AmCham China) and the European Union Chamber of Commerce in China (European Chamber) jointly invite you to attend this event on China's Corporate Social Credit System (SCS) on November 11th at Hilton Beijing.
The brand-new Corporate SCS, the innovative and comprehensive vision of using modern technologies to track, condition and steer market participants, is moving decisively forward with its planned rollout in 2020. Until lately, the discussion has focused primarily on the potential impact of the SCS on individuals in China, while the ramifications of the Corporate SCS have remained largely under the radar.
In some respects, this is good news. Equal enforcement of regulations should become a reality as numbers are crunched by impartial algorithms, before the system then pumps out a rating for each individual firm.
However, sometimes it could also be challenging. The widespread implications of the Corporate SCS include, for example: requirements for companies to regularly transfer corporate data, which will then be published and publicly available in national databases; tax ratings that are based not only on tax-specific requirements, but also individual ratings of responsible personnel, and even media reports about respective companies; companies' credit scores will be impacted by the ratings of their suppliers and business partners.
What should foreign businesses prepare for this significant change? What are the foreseeable opportunities and challenges? What unexpected implications it may cause in the short and long term? And what developments we are expecting in the coming months?
Trivium China Head of Digital Research Kendra Schaefer and European Chamber President Joerg Wuttke will present on China's Corporate SCS, and will then be joined in a panel discussion along with KPMG Partner Patrick Chu and Groupama-AVIC Chief Risk Officer Ronan Diot to shed further light on the issue.
Agenda
- 13:30 – 14:00 Registration
- 14:00 – 14:10 Welcome remarks by Alan Beebe, AmCham China President
- 14:10 – 14:40 Presentation by Kendra Schaefer, Head of Digital Research, Trivium China
- 14:40 – 15:10 Presentation by Joerg Wuttke, European Chamber President
- 15:10 – 15:40 Panel discussion and Q&A session
Moderated by William Rosoff, General Counsel, AmCham China
- Jörg Wuttke, President, European Chamber
- Kendra Schaefer, Head of Digital Research, Trivium China
- Markus Herrmann, Director and MD Switzerland, Sinolytics
- Ronan Diot, Chief Risk Officer, Groupama-AVIC
Views expressed by invited speakers do not necessarily reflect the opinions or position of the American Chamber of Commerce in China
