Chinese authorities added nearly 180,000 entities to a blacklist of individuals and entities with bad credit records in October as part of the country's broader efforts to build a social credit system, China's top economic planner said on Thursday.
In the month, authorities received as many as 207,000 cases of bad credit involving 178,000 entities from relevant government agencies, Meng Wei, a spokesperson for the?National Development and Reform Commission?(NDRC), told a press briefing in Beijing.
Meng also noted that 105,000 entities were removed from the blacklist in the month.
Entities and individuals who have failed to pay back their loans and engage in other bad behaviors such as evading taxes could be added to the blacklist and face punishments, including being barred from using some forms of transportation.
Authorities have also stepped up their efforts to crack down on bad credit in the financial sector, adding 400 individuals to the blacklist.
