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Operating with integrity and in compliance with the law to ensure the company's sustained and stable development—Wanxiang Group and Wanxiang Qianchao were selected as 2022 Zhejiang Province AAA-level “Contract-abiding and Credit-worthy” enterprises.

2022-09-16

Recently, the Zhejiang Provincial Administration for Market Regulation released the list of AAA-level “Contract-abiding and Credit-worthy” enterprises in Zhejiang Province for 2022, and both Wanxiang Group Co., Ltd. and Wanxiang Qianchao Co., Ltd. were included. Among them, Wanxiang Qianchao was a newly nominated enterprise, while Wanxiang Group Co., Ltd. was a continuing nominee.

The “Contract-Abiding and Credit-Renowned” Enterprise Publicity Program of Zhejiang Province is an administrative guidance initiative undertaken by the Zhejiang Provincial Administration for Market Regulation, based on enterprises’ voluntary applications, to publicly disclose contract performance information from the two preceding years for enterprises that meet the publicity criteria. The program is conducted annually, with a publicity period of two years. The “Contract-Abiding and Credit-Renowned” Enterprise Publicity Program of Zhejiang Province is divided into three levels: AAA, AA, and A. Among these, the AAA level carries the greatest weight and has the highest requirements. To qualify for the AAA level, enterprises must have achieved comprehensive information-based management, established sound contract credit management systems, demonstrated excellent contract performance records, exhibited strong business profitability, and enjoyed a high level of social credibility. They must also have significant influence within their industry at the national or provincial level. Additionally, factors such as the enterprise’s business qualifications, number of patents held, and charitable donations are taken into consideration.

Credit is a vital foundation of the market economy and a fundamental guarantee for the sustainable development of enterprises. Since its establishment, Wanxiang has consistently adhered to lawful and honest business practices, followed the principles of the market economy, and perfected its management systems. While promoting productivity growth, Wanxiang has vigorously advanced the building of “integrity-based enterprises,” striving to “project an image of integrity externally and foster professional loyalty internally.” As a result, Wanxiang has earned the trust of society through its sound corporate credit, laying a solid foundation for its continued and stable development. In 2001, Wanxiang Group was awarded by the State Administration for Industry and Commerce as one of the first batch of “Contract-abiding and Credit-worthy” enterprises nationwide.

Wanxiang Qianchao Co., Ltd. is the first company in Zhejiang Province to apply for the AAA-level “Contract-abiding and Credit-worthy” designation. Thanks to its high standards in the informationization of enterprise contract management, honest and law-abiding operations, promotion of the social credit system, and creation of a sound market economic order—standards that have served as a leading and exemplary model—Wanxiang Qianchao stood out in its very first application after self-application by the company, systematic review and assessment, credit report inquiries, on-site expert verification, corporate defense, and comprehensive consideration.

Being listed on the “Contract-Abiding and Credit-Respecting” enterprise roster is not only an affirmation of our past achievements but also a guiding light for our future endeavors. In our daily operations, all Wanxiang enterprises will further strengthen the spirit of “contractual commitment” and awareness of “compliance with the law,” continue to rigorously manage contracts, place even greater emphasis on integrity in business practices, and make new contributions to fostering the development of a social credit system, creating a sound market economic order, and promoting high-quality economic growth.

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