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HHH Electromechanical Co., Ltd. has been recognized as a "Contract-Adhering and Creditworthy" enterprise.
Release date:
2017-12-25
Source:
To advance the construction of our city's social integrity system, standardize corporate contract practices, and encourage businesses to honor their commitments and operate legally, the Weihai Administration for Industry and Commerce has decided to publicly announce 181 "Contract-Honoring and Creditworthy" enterprises for the 2015–2016 period, in accordance with the *Weihai Measures for Publicizing Contract-Honoring and Creditworthy Enterprises*. HHH Machinery & Electronics Co., Ltd. is proudly listed among them.
To advance the construction of our city's social integrity system, standardize corporate contract practices, and encourage businesses to honor their commitments and operate legally, the Weihai Administration for Industry and Commerce has decided to publicly announce 181 "Contract-Following and Credit-Respecting Enterprises" for the years 2015–2016, in accordance with the *Weihai Measures for Publicizing Contract-Following and Credit-Respecting Enterprises*. HHH Machinery & Electronics Co., Ltd. is proudly listed among them.
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What is the significance of conducting the "Uphold Contracts and Value Credit" publicity campaign?
The "Upholding Contracts and Valuing Credit" publicity campaign is a comprehensive government initiative in China aimed at evaluating corporate creditworthiness. It seeks to strengthen the societal integrity system, standardize corporate contract practices, and encourage businesses to honor their commitments and operate legally. Companies recognized under this program can benefit from over 50 preferential policies offered by 17 government departments, including the Administration for Industry and Commerce, the Tax Bureau, the National Development and Reform Commission, the Economic and Trade Commission, the Department of Science and Technology, as well as agencies related to finance, social security, banking, and customs—covering a wide range of sectors.
Relevant details about Weihai City's selection of enterprises recognized for integrity
Weihai City’s “Contract-Adhering and Credit-Renowned” publicity event is held every two years. The Municipal Administration for Industry and Commerce regards this initiative as a key tool for strengthening corporate credit supervision. Following the guidelines and standards outlined in notices issued at various levels, the agency rigorously reviews applicant companies across multiple dimensions—such as contract management,履约能力 (performance capability), credit management, and overall social reputation. Special attention is given to how companies draft and fulfill contracts, as well as their use of standardized contract templates. Additionally, the process incorporates feedback obtained through official inquiries sent to relevant departments. Any enterprise found ineligible is immediately disqualified, ensuring that only the highest-quality candidates are selected—a "one-vote veto" system that guarantees excellence and maintains the integrity of the program. The “Contract-Adhering and Credit-Renowned” publicity event has become a vital component of Weihai’s broader efforts to build a trustworthy and credible business environment. To date, 368 enterprises across the city have been recognized as “Contract-Adhering and Credit-Renowned” units, including 26 nationally recognized enterprises, 161 provincially recognized enterprises, and 181 municipally recognized enterprises.
Conditions for Obtaining "Contract-Abiding and Creditworthy" Enterprise Status
Newly submitted enterprises for public announcement by the Weihai Municipal Administration for Industry and Commerce must have been established at least three years prior to the submission date and must meet the following criteria: (1) The enterprise and its brand have demonstrated significant regional social influence; (2) The enterprise has a robust contract and credit management system in place; (3) Contractual practices are standardized and compliant; (4) The enterprise exhibits strong performance in fulfilling contractual obligations; (5) The enterprise’s operational efficiency ranks among the industry leaders; (6) For enterprises subject to qualification management or required to hold industry-specific certifications, they must possess the corresponding qualifications or certificates; (7) The enterprise enjoys a solid reputation within the community and has received positive feedback from relevant authorities with no adverse records on file.
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