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China has launched the country's first market credit index in Yiwu, the country's largest distribution center for small commodities, in the eastern province of Zhejiang.

Foreign business people purchase small commodities at the Yiwu China Commodity City in January, 2008. China has launched the country's first market credit index in Yiwu, the country's largest distribution center for small commodities, in the eastern province of Zhejiang. [Xinhua]

The Yiwu Market Credit Index (YMCI), launched on Wednesday, has eight specific sub-indices: credit management, entrepreneur quality, business performance, financial credit, fair competition, commodity quality, intellectual property rights and consumer rights protection.

Jointly developed by the Zhejiang Provincial Administration for Industry and Commerce, Yiwu municipal government and China Credit Research Center with Peking University, the YMCI is aimed at reflecting the development, changes and trends of the credit situation at the Yiwu market.