Textile Industry Association: Credit Evaluation Of Garment Enterprises Officially Started

China Textile Industry Association announced today (15) that the credit evaluation work of textile and garment enterprises officially started.

This indicates that the financing difficulties of SMEs, the level of enterprise credit management and the ability to resist risks will be solved, and the mechanism of rewards and punishments for trustworthiness and dishonesty will be established.

According to Du Yuzhou, President of China Textile Industry Association, "more than 90% of China's textile enterprises are small and medium-sized enterprises. Their financing difficulties are mainly caused by the lack of credit system, which is urgently needed to solve in the post international financial crisis."

The textile industry is a traditional pillar industry and an important livelihood industry of our national economy. At present, China is changing from a big textile country to a strong textile power. The establishment of credit evaluation system for textile enterprises not only provides strong evidence for enterprise financing, but also improves the brand competitiveness of the enterprises. From the industry, it can also form a good atmosphere of keeping promise and practice, and it will generate an endogenous driving force for the development of the industry.

The director of the credit office of the China Textile Industry Association introduces that the China Textile Industry Association will carry out the enterprise credit evaluation work among the members of the association and the association of escrow professional associations.

Enterprise credit evaluation will follow the principles of being realistic, objective, voluntary, open and pparent, serving members and supporting the strong and strengthening the enterprise.

The enterprise credit evaluation will be used as a long-term work to promote the development of the industry and service members of the enterprises. From 2010, the enterprise credit evaluation will be accepted by the enterprise, and the evaluation results will be issued to the society two times a year.

The batch industry pilot units, guided by the office of the leading group of the market economic order and the Liaison Office of the association of state owned assets supervision and Administration Commission, and under the guidance of the guidance of the chamber of Commerce on industry credit construction and the implementation measures of the pilot work of the industry credit evaluation, have extensively consulted the opinions of enterprises and relevant departments. The association has established the basic framework of the credit evaluation system for the textile and garment enterprises, aiming at objectively analyzing and evaluating the factors of finance, finance, human resources allocation, operation and operation, enterprise management, product quality, safety production and social reputation, and providing a detailed and scientific credit analysis and evaluation report and corresponding credit rating for enterprises, as a reference for enterprises to carry out external economic activities. It is reported that China Textile Industry Association as the Ministry of Commerce and the SASAC credit evaluation work third

It is reported that the credit evaluation management and technical index system of the textile and garment enterprises is formulated by the China Textile Industry Association Enterprise Credit Evaluation Committee in accordance with relevant national policies and regulations and relevant standards.

The committee is composed of relevant leaders of the China Textile Industry Association, professional associations, experts from textile and clothing institutions, and senior management experts, legal experts and credit experts of some key enterprises. The textile industry is one of the fastest growing industries in China under the conditions of opening up and market allocation.

The textile industry is facing two international and domestic markets. The industry chain is long, the effect of industrial cluster is obvious, and it directly serves thousands of consumers. Therefore, the establishment of credit system and the credit evaluation work of textile and garment enterprises are related to the interests of enterprises and all parties.

Textile enterprises participating in credit rating evaluation activities can set up the awareness of enterprise credit construction, strengthen their own credit management, establish their own social credit image, enhance business opportunities, create direct and indirect financing conditions, and provide convenient means for the government to supervise and manage enterprises.

Credit evaluation originated in the United States and has a history of more than 100 years. At present, credit rating has been widely accepted by rating agencies or industry organizations in major countries in the world.

Enterprise credit evaluation refers to the comprehensive evaluation of enterprises' compliance with the law, the fulfillment of social commitments, and the willingness and ability to repay the economy. The first is the performance of the enterprises, the evaluation of whether the enterprises have the technical, financial and management capabilities to fulfill the relevant contracts. The two is the willingness of the enterprises to perform their contracts, which mainly investigates the excellent credit records and bad credit records of the enterprises in the past.

The fundamental purpose of enterprise credit evaluation is to promote the construction of industry credit system through formulating and implementing a set of scientific and applicable credit evaluation index system and industry credit standard, standardizing the business behavior of enterprises, strengthening industry self-discipline and social supervision.