The General Administration of Market Supervision has issued new rules on credit repair to encourage and support relevant operators to reshape credit.

[the General Administration of Market Supervision has issued new rules on credit repair to encourage and support relevant business entities to reshape credit] the General Administration of Market Supervision recently issued the "regulations on Credit repair procedures for serious violations of laws and breach of Credit and Administrative penalties for Public Information (for trial implementation)." The "regulations" mainly establish and improve the working mechanism of credit repair management from three aspects: first, to carry out credit repair management work in strict accordance with relevant standards, procedures, and time limits in accordance with the law. The second is to clarify the division of responsibilities of the relevant departments and bureaus of the General Administration and improve the working mechanism in accordance with the principle of "who determines, who repairs". The third is to provide efficient and convenient services for operators to apply for credit repair by issuing work guidelines and strengthening information construction.