What is China Social Credit?

The China social credit system is often confused with existing credit ratings provided by private credit providers. It is commonly likened to Sesame (Zhima) Credit, which is operated by Alibaba’s Ant Financial. Note, Sesame Credit has no connection to ‘Credit Sesame’, a US-based credit and loan company.

Is China's Social Credit System a world first?

China's social credit system isn't a world first but when it's complete it will be unique. The system isn't just as simple as everyone being given a score though China's social credit system has been compared to Black Mirror, Big Brother and every other dystopian future sci-fi writers can think up.

Is China's Social Credit system slowing down?

This applies both to individual scores, and the corporate social credit score. 2024 marks an era of stability in the development of China’s social credit system. By 2022 an estimated 80 percent of provinces, regions and cities had introduced some version of the system, but now that appears to have slowed down significantly.