European firms warned China’s social credit system could be ‘a matter of life or death’

The social credit system aims to use advanced data-collection and sharing technology to reward or punish people’s behaviour depending on their overall social credit score in an effort to ensure people and business will abide by the rules. — SCMP

European companies operating in China have been urged to step up their preparations for the introduction of the country’s social credit system after a report warned that it may cause “substantial and wide-ranging” disruption to their operations.

The report by the EU Chamber of Commerce in China said the system would have an impact beyond the Chinese market and could affect countries involved in Beijing’s flagship Belt and Road Initiative.