Research On The Regulation To The Credit Rating Industry Of China On The Background Of The Financial Crisis

The regulation to the credit rating industry have caught the attention of the U.S.A, EU and other countries after the international financial crisis and the European sovereign debt crisis. The development situation of a country's credit rating industry has direct affects on both the order of its financial market and its right of speak in the global financial market, also related to the country's economic security and development. The regulation to the credit rating industry has been raised to national strategic level. This paper based on the principles of economics, using the economic theories to describe the reasons of the emergency and development of the credit ranting industry, and argued that the credit rating industry's characteristic determines that it has inherent contradictions, it must be regulated. According to the current realities, this article divided the risk caused by the credit rating industry into the intra-system risk and inter-system risk, and taking the U.S.A and EU as references, to research the regulatory solution on these two kinds of risks. Finally, the paper analyzed the history and current status of regulation to the credit rating industry in china, combined with international experience, and gave policy recommendations. This paper used qualitative analysis, quantitative analysis, comparative analysis, and literature analysis.