The Research Of Credit Rating Of China’s Trust

As trust companies have specific institutional strengths and professional assetsmanagement capabilities, with continued development of economic and high networth clients, trust industry is developing rapidly. By the end of the third quarter of2013,domestic scale of trust assets has exceeded10trillion yuan mark, trust industrybecome the second largest financial sub-sectors， preceded only by the bankingindustry.Because trust companies have a wide range of trust products and mostly of theproducts are non-standarded, especially with the private nature of the trust,information disclosure requirements are more lenient，so credit risks continue to rally.If things continue like this way, not only the interests of investors can’t beguaranteed，but also the establishment of trust industry’s reputation mechanismswill be affected.Finally it will influence the long-term stability of the capital marketand will eventually hinder the development of the trust industry. In view of this,reveals Trust’s credit risk has a very important practical significance for providingthe basis reference for investment decision and financial regulation. And disclosurethe credit status of the trust companies is the most effective method of revealing theircredit risks.This paper first reviews relevent theories and methods of credit rating, on thisbasis, select fuzzy comprehensive evaluation credit rating model, and introduces thismodel’s establishing procedures. Then, I designed a credit rating index system.basedon the analysis of the characteristics of trust.Final credit rating index system builtfrom implicit guarantee, asset management abilities and risk management abilities,this system has a total of14secondary indicators and26third level indicators. I alsoused AHP method to define the weight for each indicator. Next, determined themembership function critical point of each credit rating index on the foundation ofregression analysis of selected55trust companies’ relevant information, and on this basis, calculate the degree of membership of each Trust’s credit rating index, thenobtain Trust credit rating scores and credit rating level through fuzzy comprehensiveevaluation Finally test the credit rating results, summarized the shortcomings of thisstudy and propose future research directions.