BEIJING, June 27  -- China on Friday released an outline for building a government-led national social credit system to assess individuals and government agencies on areas ranging from tax payment, local government bonds to judicial credibility.

The outline issued by the State Council, or China's cabinet, focuses on credit in four areas, including administrative affairs, commercial activities, social behavior, and the judicial system.

The authority pledged to establish a set of laws and regulations regarding social credit, a credit reference system that covers the whole of society, and a related reward and punishment mechanism by 2020.

According to the document, individuals and organizations will be coded based on identity card numbers or organization numbers to allow different sectors to share credit information.

Credit records will include information on financial, industrial and commercial registration, taxes and social security payments, as well as traffic violations.

The State Council said in the outline that efforts will be made to educate the public on integrity.