Research Of Chinese Credit Rating Development

Experienced nearly 20 years of twists and turns, the credit rating industry in China will soon usher in a new opportunity. This paper attempts to learn from the development course of international rating industry and rating giant, thereby to point out the right direction for Chinese credit rating industry.The author reviewed the development course of international credit rating industry. The author summaries the development trend of the international credit rating industry , comparing the rating systems of major developed countries.The author thinks the development of stock market gives the opportunity to the moodys from studying the moodys'developing history. The author then studies the 20 years of development of Chinese credit rating industry, and noted the existing problems of Chinese credit rating industry.In August 2007, China Securities Regulatory Commission promulgated and implemented the "Corporate Bonds Issuance Pilot Approach" and "Stock Market Credit Rating Business Interim Measures", indicating the new opportunity of credit rating industry. The author makes an outlook of Chinese credit rating industry. He thinks that the corporate bonds rating will become the mainstream of credit rating industry.On the basis, the author enacted the strategy for the Pengyuan Rating Co., ltd.