In the modern economic system, an honest and trustworthy credit environment is not only a moral initiative, but also a key infrastructure that is equally important as highways, water supply, power grids, and digital networks. Establishing a sound social credit system and creating an honest and trustworthy credit environment are of great significance for practicing socialist core values and promoting high-quality development. The Decision of the Central Committee of the Communist Party of China on Further Comprehensively Deepening Reform and Promoting Chinese Path to Modernization clearly proposes to improve the social credit system and regulatory system. The 9th Plenary Session of the 11th Henan Provincial Committee of the Communist Party of China proposes to create five environments including an honest and trustworthy credit environment. Establishing a sound social credit system and creating an honest and trustworthy credit environment is a systematic project that covers institutional rules, data foundation, reward and punishment mechanism, regulatory mode, and market vitality.
