Beijing municipality will complete a project to register credit scores for all permanent residents by 2020, The local economic planner said Wednesday.

The move comes as China intensified its efforts to build a social credit system for improving its business environment and boosting development.

The credit scores are expected to impact market access, public services, travel, job-hunting and The ability to start businesses, according to a plan to improve The city's business environment published by Beijing Municipal Commission of Development and Reform.

The city will improve its blacklist system and publish The default records of individuals and enterprises regularly, for penalizing such behavior, The plan said.

The plan also encourages government bodies in The city to share credit information for coordinated actions.

At a meeting in June, Chinese Premier Li Keqiang called for building a social credit-centered regulatory mechanism and enhancing social credit building in key areas concerning people's livelihoods.'

(ASIA PACIFIC DAILY)