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Recently, Ama, a Brazilian merchant, used to scan the QR code of Yiwu Market Credit APP when purchasing in Yiwu International Trade City to find a five-star booth at the top of the credit list by APP. Ama came to the booth according to the booth number and placed an order worth more than RMB 100,000 yuan.
According to information, since Yiwu Market Credit APP is on-line in January 9 this year, APP has become a “standard configuration” of market purchaser. In just half a year, the APP has been used for more than 160,000 times accumulatively, totaling being installed for 75,000 times. APP gathers credit information of three party including 18 government departments, enterprises and merchants. On the APP, Market operators may directly apply for trademarks, patents, copyrights, honors and other credit information to improve credit rating. Purchasers and consumers may evaluate the operators on APP. Based on the credit score from high to low, market merchants are divided into six grades: AAA, AA, A, B, C and D.
Wang Songbing, Director of the China Petty Commodities City Branch of Market Supervisory Authority, said that “so far, we have realized data sharing with the court, public security, inspection and quarantine, taxation, banking and other 18 departments. The credit rating will dynamically fluctuate in real-time as long as the operator has any dishonest conduct. Additionally, actively participating in market maintenance, party building and mass construction activities, promoting market transformation will contribute to improve the credit score of operators, no ceiling”.
Relying on the commercial credit data on the market credit classification supervision platform, Yiwu implemented classification supervision with different frequency and intensity. One-star to five-star credit level were evaluated from the well-credited booths to be listed publicly. An incentive mechanism also was set up to publicize the dishonest business practices harmful to the reputation of market. At present, 64 five-star booths, 3,233 four-star booths, 7,538 three-star booths, 18,827 two-star booths, and 12,216 one-star booths were evaluated from star level boothes. According to statistics, the customer satisfaction rate has reached 97% since the implementation of credit classification supervision.