Whether parties that violate laws and are dishonest could apply for repairing credit? —- The new regulations of SAMR has come into effect on September 1, 2021
In order to provide more opportunities for parties which violate laws and are dishonest to correct their illegal or dishonest acts, rebuild credit, and further stimulate the awareness of honest and law-abiding operations, the SAMR has published 3 policies, which are the “Administrative Measures for the List of Subjects with Seriously Illegal or Dishonest Acts under Market Regulation”, the “Provisions on the Publicity of Administrative Penalty Information on Market Regulation”, and the “Administrative Measures on Credit Repair for Market Regulation”. Those 3 policies have come into force on September 1, 2021. Due to space limitations, we have chosen the main…