Economic Globalization And Introduction Of Credibility System To China's Market Participants

Credibility is the basic requirement and golden rule of market economy. However, under the background of that economic globalization becomes the inevitable trend of the world economic development, Credibility seems to be the weakest factor to China's economy when it wants to be a part of the world's. And the lack of credibility, which mainly comes like low-cost marketing, contract frauds, smuggling, tax evasions, dodging debt, false financial statements, the price traps, local protections, caused huge losses to China. The key to these problems lies in the introduction of social credit system which, for the moral support, based on property rights, for the protection of the law, have the transparency of information and effective supervision, which also helps China's integration into the world economy harmoniously.