Attachment I:  Press Conference of Enterprises’ International Credit Rating and Promotion

3 The World Focus Turned Salute to the Upcoming First Batch of the “China International Credit Enterprises”

Beijing, May 15, 2006 - China International Institute of Multinational Corporations (CIIMC), a renowned organization known for the publication of the world’s famous “World Economic Development Declaration”, and D&B Corporation (D&B), the world’s leading global business credit rating institution, jointly announced the launch of promotion campaign for the upcoming first batch of “China International Credit Enterprises” today at the press conference held at the Great Hall of the People.

Speaking at the press conference, Mr. Wang Maolin, Vice-chairman of NPC Law Committee and President of CIIMC, commented that Credit is the cornerstone and competitive edge in the market, the vital and “intangible asset” for the existence and development of an enterprise, whereas international credit further acts as a qualifying attribute for competition in the international market. To satisfy China’s developmental strategy of “bringing in, going global” and the needs of the international market, CIIMC and D&B have invested the past two years for the successful compilation of the “Standard Rating for Chinese International Credit Enterprises”, and now the launch of the China International Credit Enterprises Promotion Campaign will surely drive the “China International Credit Enterprises” into the international market.

David Emery, Senior Vice President of D&B added, “I am happy to see that with concerted efforts from CIIMC and D&B’s international experience in credit management and the provision of the world-class tools, insights and expertise for China market, China has accelerated into a credit economy. I have much confidence in the launch of the promotion campaign and its development, and have committed myself and my dedicated team in China our full support and advice for this project”. 

The appearance of “China International Credit Enterprises” is not only a big event in the economic development of China, but also a big event that all the countries of the world fix eyes on. It further indicates that China takes a more proactive and responsible stance in international competition for the promotion of a positive, healthy and sustainable development of the global economy.

The China International Credit Enterprises Promotion Campaign is composed of two phases: credit rating and promotion of China International Credit Enterprises. Credit rating is based on “scientific, transparent and amenable to time and market standards”. Enterprises are encouraged to participate in a voluntary basis. A further commitment to “fairness and justice” is an unarguable promise of the campaign organizers to the international community. 

The promotion campaign is aimed at achieving multiple objectives: the promotion and involvement of Chinese enterprises in international communication and competition; the prospecting for business partners; the strengthening of investment and financing trade, and the enhancement of competitiveness in international markets.  The first batch of enterprises for credit rating and promotion include medium and large-scale enterprises from various categories, namely state-owned, private-owned and three kinds of foreign-invested enterprises leveled in “China”, “Province”, “Autonomous Region”, “Municipal” and “City”.

The promotion campaign will commence from May. May to July is the registration time.  Enterprises are welcome to register with D&B for an initial assessment.  Upon successful evaluation, they will be given an internationally recognized “enterprise ID” - the DUNS Number.  Enterprises which pass the initial assessment will be rated by D&B according to the credit standards adopted by the “China International Credit Enterprises”.  Names of enterprises which pass the evaluation   will be published online and through other media, and be assessed further by an Expert Evaluation Committee. Only creditworthy enterprises which successfully pass this stringent evaluation could be awarded among the first batch of “China International Credit Enterprises”.  There will be coverage from key media during each stage of the assessment, to gather opinion and receive potential complaints from enterprises in the hope to establish appropriate checking system.  

The entire promotion campaign is designed with nine procedures: registration, initial assessment, rating, publication, review, verification, award, promotion and annual review.

The rating process is expected to be completed by November 2006, with the announcement of the awardees of the “China International Credit Enterprises”.  The grand ceremony for the first awardees of “China International Credit Enterprises” will be held at the Great Hall of the People.  The targeted attendees will include at least 100 key media and related organizations from China and the international arena, with the “China Enterprise International Credit Forum” as an important highlight in the ceremony.  Awardees of the “China International Credit Enterprises” can benefit from this title with excellent opportunities for promotion locally and internationally.  

The awardees of the “China International Credit Enterprises” will have an annual review. Awardees who fail in the annual review will be disqualified and lead to cancellation of the title.  The campaign organizers will concentrate efforts in training these disqualified enterprises to help them meet the standards of the assessment within the soonest possible timeframe. 

China International Credit Enterprises Promotion Campaign has gained support not only from the Office for National Leading Group of Rectification and Standardizing Market Economic Order, but also from the  related ministries and commissions, industrial associations, related expert scholars, foreign chambers of commerce in China and many famous international and Chinese enterprises.

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