Credit (original in Chinese): https://finance.huanqiu.com/article/4MbpCCUItsl
On May 9, the “Credit Going Global” conference, hosted by the Guangdong-Hong Kong-Macao Greater Bay Area Credit Construction Development Alliance, was successfully held. The event was attended by officials from various regulatory bodies, including the Credit Supervision Department of the State Administration for Market Regulation, the National Organization Code and Unified Social Credit Code Data Service Center, and market supervision authorities from nine cities across the Greater Bay Area. Representatives from the Hong Kong Trade Development Council, Qianhai Authority, and Futian District Development and Reform Bureau also participated.
Addressing Key Challenges in Global Expansion
Under the dual circulation development strategy, enterprises aiming for international growth face three key challenges:
- Identifying market opportunities
- Establishing trust and credibility
- Managing risk effectively
To tackle these challenges, the Alliance, in partnership with international institutions such as the World Trustmark and Trade Alliance, Dun & Bradstreet, Coface, and Grant Thornton, has integrated domestic and foreign credit data resources to develop a comprehensive service system. This framework facilitates precise customer acquisition, credibility certification, and secure global partnerships.
Strengthening Credit-Based Expansion
With the theme “Enterprises Going Global, Credit Control First,” a representative from the Shenzhen Municipal Administration for Market Regulation emphasized that amid global supply chain restructuring and rising trade protectionism, businesses must leverage:
- Hard power – technological innovation and product excellence
- Soft connectivity – mutual trust and cross-border recognition
The Alliance aims to establish legal frameworks for cross-border credit standards, standardized services, and data integration, forming a credit-driven industry ecosystem to support enterprises in overseas expansion.
Global Trustmark Strategies
In a video statement, the Chairman of the World Trustmark and Trade Alliance underscored the importance of digital transformation and value chain restructuring in shaping the global economy. The Alliance seeks to enhance “Made in China” products through credit certification, transitioning from product exports to trust-based exports to strengthen Chinese enterprises’ global presence.
Innovative Credit Services The Shenzhen Credit Promotion Association (Alliance Secretariat) introduced several key initiatives to support businesses:
✅ Credit Passport: Addresses identity trust challenges by leveraging the World Trustmark Alliance’s credibility and Dun & Bradstreet’s global corporate credit database, creating internationally recognized digital business credentials for cross-border collaborations.
✅ Data-Driven Customer Acquisition: Integrates foreign corporate registries, customs trade records, and e-commerce data with big data analytics to map market demand trends and identify high-potential clients, reducing overseas entry costs.
✅ Risk Management Services (“Risk Butler”): Developed with Coface, this credit risk assessment model provides real-time risk scoring, credit limit recommendations, and dynamic monitoring to help businesses mitigate transactional risks while ensuring sustainable growth.
Strategic Partnerships & Future Goals
During the event, Futian District launched its “Xinfu Going Global” service. Representatives from five leading institutions—Hong Kong Trade Development Council, Dun & Bradstreet, Coface, Grant Thornton, and Zhongchuang Qifu—signed a strategic cooperation agreement.
Moving forward, the Alliance aims to strengthen collaborations across Shenzhen districts and Greater Bay Area cities, with the ambition of supporting 100,000 enterprises within five years and facilitating secure, high-quality global expansion. This initiative seeks to establish a scalable, replicable “Greater Bay Area model” for Chinese companies entering international markets. This revision improves readability by making sentences more fluid, condensing complex phrases, and enhancing the document’s structure. Let me know if you’d like further refinements!