CPCIA Rates Credit of Petrochemical Firms    

In accordance with The State Council's notice on "Construction of the Social Credit System," the China Petroleum and Chemical Industry Association (CPCIA) begins a credit rating program for the petroleum and chemical enterprises nationwide. Petroleum and chemical firms registered in mainland China that have an independent legal person status and have continuously run for over three years are qualified to apply for credit ratings from CPCIA.
   Enterprise credit is divided into three levels-A, B and C, and nine sublevels-AAA, AA, A, BBB, BB, B, CCC, CC and C. A firm's credit rating is set to be valid for three years. CPCIA will review it annually during the period of its validity.
    The deadline to apply for enterprise credit rating is August 31st, 2009. The application must include enterprise's basic sales and financial data from 2006 to 2008.