Research On Constructing The National Rating Agencies With International Influences

Credit rating is a good method to promote market challenges fairly and to raise market proficiency. It is very important for a country to develop its economy fairly and to manage its finance safely. Once that country has influences in international credit rating, it can offer credit rating reports of offering overall information and revealing trustily all risks objectively. The international credit markets are dominated by the United States three major rating agencies which have monopoly of rating market. Meanwhile, Chinese credit markets are also dominated by foreign rating agencies indirectly.Our rating agencies have not international influences that correspond to the Chinese political and economic development. It is very urgent for us to establish national credit rating agency with international influences, so that economic development and openings to foreigners can be done better. By Literature Research Method and Content Analysis Method, this article starts from obstacles in international rating areas, and then analyzes strengths in Chinese rating agencies and weaknesses of western rating agencies. Finally draws the conclusions:(1) It is our national strategy to establish national rating agencies with international influences. We should construct legislation and regulations, expand rating markets, train rating professions and manage rating agencies effectively. All rating agencies should be supervised under the laws and regulations strictly.(2) A best national rating agency,for and on behalf of China, should appeal and establish World Rating Organizations and World Rating Supervision Organizations with other countries.New rating standards should be made and new fair and effective rating theories should be developed rapidly.