On October 23, the National Market Regulation Administration of China released data indicating a slight increase in the country’s corporate credit index for September, signaling a steady improvement in the credit levels of various industries. Notably, the finance sector experienced the fastest growth in its credit index.
The data showed that the corporate credit index for September stood at 158.36, marking an increase of 1.30 points from August. This rise coincided with several positive developments, such as a decrease in the number of newly listed enterprises in abnormal operations, an uptick in new business establishments, enhanced stability in compliance management, and improved market expectations.
For the first three quarters of the year, the corporate credit indices were recorded at 159.00, 158.90, and 157.35 respectively. These figures reflect the resilience of China’s economy amidst a complex and ever-changing domestic and international landscape and during a critical phase of structural adjustments and transformations.
In September, the top five provinces with the highest credit indices were Anhui, Beijing, Shaanxi, Jiangsu, and Zhejiang. Each of these provinces showed notable improvements in their corporate credit levels compared to August, particularly Shanghai and Hubei, which recorded significant month-over-month increases, indicating a strong trend in credit development.
For the third quarter, the leading provinces remained the same with Beijing, Anhui, Jiangsu, Shaanxi, and Zhejiang at the forefront. Businesses in these regions consistently excelled in reliability metrics, operational indicators, and compliance measures. Additionally, cities such as Chongqing and Henan showed substantial advancements in their rankings compared to the second quarter.
Across all industries, the credit indices saw improvements in September, marking an overall boost in industry credit levels. The finance industry continued to lead in growth this month, while the water management and environmental sectors achieved their highest rankings of the year.
In the third quarter, the industries that ranked highest in credit indices included finance, electricity, heat, gas, and water supply, as well as water management, construction, and education. The manufacturing sector also saw a significant rise in its ranking as the ongoing transformation and upgrades continue to advance.
