Major News: Nationwide Vape Company Credit Rating Program Officially Begins

On August 26, the E-cigarette Industry Committee of the China Electronics Chamber of Commerce issued a public notice on launching a nationwide corporate credit evaluation program for e-cigarette companies.
 
The notice emphasized that, in order to implement the decisions and deployments of the CPC Central Committee and the State Council on advancing the social credit system, strengthen and improve joint incentives for trustworthiness and joint penalties for dishonesty, promote the construction of a credit system in the consumer sector, and protect consumer interests, it has been decided after research that the E-cigarette Industry Committee of the China Electronics Chamber of Commerce will carry out the “National E-cigarette Enterprise Credit Evaluation” within the industry. The evaluation will focus on areas such as business operations, public credit status, strength and scale, management level, and social responsibility, and will provide priority services for qualified companies in investment and financing, market expansion, supply-chain matching, and industry promotion.

It is understood that this credit evaluation work was initiated by the China Electronics Chamber of Commerce, managed through the Chamber’s Enterprise Credit Management Office, and technically assessed by a qualified third-party credit reporting agency. After evaluation and verification, companies will receive exclusive, searchable credit files as well as authorized credit labels, credit certificates, electronic certificates, and other certification-related benefits. The China Electronics Chamber of Commerce will commission Shenzhen Zhongshang Huiqiye Management Co., Ltd. to focus on organizing enterprise participation, business promotion, and related processing work within the e-cigarette industry.