Social credit system to be set up for home services

China will create a social credit system involving companies, workers and consumers in the home services sector, according to a notice released on Friday.

The notice, launching a special campaign, said departments including the National Development and Reform Commission, the Ministry of Public Security and the People's Bank of China will be required to take steps to create an honest and trustworthy environment for the development of home services.

The first blacklist containing the names of individuals and companies with discreditable records will be released at the appropriate time.

After a review, the list will be made public via the Ministry of Commerce website and two credit inquiry platforms, the National Enterprise Credit Information Publicity System and creditchina.gov.cn.

Meanwhile, an incentive list for companies with higher credit ratings will also be created. Those on the list will be treated favorably, including having to undergo fewer government inspections and being eligible for more tax breaks and better financing terms, the notice said.