China's corporate credit index for the first half of 2026 stood at 161.88, indicating that overall business credit levels remained stable with minor fluctuations. The national corporate credit landscape experienced high-level volatility during this period.

In the first half of the year, the corporate credit index inched down by 0.04 points compared to the second half of 2025 but rose by 0.27 points year-on-year, reflecting a generally steady state of business credit. In the second quarter of 2026, the index was 161.72, a slight decline of 0.33 points from the first quarter. Meanwhile, the number of companies removed from the list of abnormal business operations continued to increase, and the number of new enterprises steadily rose, strengthening the foundation for improvement. In June, the index was 161.22, down 0.31 points from May, yet the proportion of businesses with high credit risk kept decreasing, maintaining the index at a high level.

Regional business credit levels remained broadly stable. For the first half of 2026, the top five provinces in the credit index were Shaanxi, Xinjiang, Anhui, Beijing, and Tianjin. Compared to the second half of 2025, most regions saw minor fluctuations, continuing a stable trend, with Xinjiang and Hainan experiencing significant increases in their rankings due to large month-on-month gains. In the second quarter of 2026, the top five were Shaanxi, Xinjiang, Beijing, Anhui, and Tianjin. By June 2026, the leading regions were Zhejiang, Beijing, Inner Mongolia, Shaanxi, and Tianjin. Compared to May, most areas showed narrow fluctuations, while Hainan and Shanghai posted notable month-on-month index growth, boosting their rankings.

Industry-level business credit saw a stable rise. In the first half of the year, the top sectors by credit index were financial services, electricity, heat, gas, and water supply, education, manufacturing, and water conservancy, environment, and public facility management. All industries experienced index improvements compared to the second half of 2025. Notably, financial services, resident services, repair, and other services, and information transmission, software, and IT services recorded the largest month-on-month gains, signaling significant enhancements in their credit conditions. In the second quarter of 2026, the leading industries were financial services, electricity, heat, gas, and water supply, manufacturing, water conservancy, environment, and public facility management, and education. By June 2026, the top-ranking industries were financial services, manufacturing, electricity, heat, gas, and water supply, water conservancy, environment, and public facility management, and transportation, storage, and postal services. Compared to the previous month, manufacturing, wholesale and retail trade, and transportation, storage, and postal services saw the most notable index growth.