Английская Википедия:China Chengxin Credit Rating Group

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Шаблон:Short description Шаблон:Infobox company

China Chengxin Credit Rating Group was founded in Beijing on 8 October 1992 through the incorporation of China Chengxin Credit Management Co Ltd (renamed as China Chengxin Credit Management Co. Ltd. in 2002),[1] which is the first nationwide credit rating company of China.[2] Subsequently, it formed subsidiaries and established branches across China, including China Chengxin International Credit Rating Company Limited (the joint venture credit rating company among China Chengxin Securities Rating Company Limited, Fitch Ratings and International Finance Corporation established in 1999).[3] The share-holder structure of the joint venture company was changed in 2006 when Moody's came in to take over the equity positions of Fitch and the supranational institution.[4] The company is one of the few major credit rating agencies currently operating in China.[5]

China Chengxin Credit Management Co. Ltd. went to Hong Kong to set up its subsidiary, China Chengxin (Asia Pacific) Credit Ratings Company Limited, which received the Type Ten License from Hong Kong Securities and Futures Commission on 28 June 2012, thus became the first Chinese credit rating company going out of the Chinese mainland to do credit rating business in the international capital markets.[6]

China Chengxin Credit Rating Group has branches and subsidiaries operating in Beijing, Shanghai, Hong Kong, Shenzhen, Fujian, Wuhan, Shandong, Liaoning, Tianjin, Jiangsu, Zhejiang, Shanxi and Shaanxi.[7]

History

1992–1999: Founding period

In 1992, encouraged by the talks of the then Chinese leader Deng Xiaoping during his tour to the southern China, MAO Zhenhua, like many young people of China, started his private venture to form a credit rating company.[8] Upon the approval given by People's Bank of China, MAO was successful in establishing the first Chinese credit rating company, China Chengxin Securities Credit Rating Company Limited under the Chinese corporation rules and regulations.[1]

The company worked out the first set of credit rating system and methodology in China, which was assessed and accredited by the group of experts from the Finance and Economic Committee and Law Committee under the People's Congress, People's Bank of China, National Planning Commission, banks and securities house. Шаблон:Citation needed

1999–2005 Take-off period

As the Chinese capital markets had just started growing, IFC, an agencies of World Bank Group, made efforts to help the Chinese capital markets to develop, including the establishment of an effective and efficient credit rating industry. After several years’ endeavour, this supranational institution succeeded in pulling together China Chengxin Securities Credit Rating Company, Fitch IBCA (now Fitch Ratings) and itself to form China's first credit rating joint venture company, China Chengxin International Credit Rating Company Limited in August 1999.[3] In July 2004, Fitch divested from the joint venture company to align with its global strategy of securing majority control over the overseas subsidiaries.[9]

2006–2011 Advancing period

The Chinese capital markets were further reformed in 2005, leading to the fast development of the debt market. Moody's moved in to buy up to the regulatory cap of 49% share of China Chengxin International Credit Rating Company Limited from the local share-holders in September 2006. Moody's added additional management and technical support on rating methodologies and training of analysts to the joint venture company.[10]

China Chengxin Securities Credit Rating Company Limited was renamed as China Chengxin Credit Management Company Limited to turn it into a holding company of all subsidiaries and branches formed or to be formed. Subsequently, China Chengxin Credit Rating Management Company Limited has subsidiaries and branches providing credit rating services in Beijing, Shanghai, Hong Kong, Shenzhen, Fujian, Wuhan, Shandong, Liaoning, Tianjin, Jiangsu, Zhejiang and Shanxi.

Owing to its first comer status and expertise acquired from the two international credit rating agencies, respectively. The China Chengxin Credit Rating Group can always capture the largest overall market share in the domestic market.Шаблон:Citation needed

2012– Going out

Following the trend of internationalization of the Chinese currency, China Chengxin Credit Management Company Limited established its subsidiary in Hong Kong, China Chengxin (Asia Pacific) Credit Ratings Company Limited, which received the Type Ten License from Hong Kong Securities and Futures Commission on 28 June 2012, thus became the first Chinese credit rating company going out of the Chinese mainland to do credit rating business in the international capital markets.[11]

China Chengxin (Asia Pacific)

On 28 June 2012, China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) was successful in applying for the type ten operating licence from Hong Kong Securities and Futures Commission, thus, became the first licensed Chinese credit rating agency to operate in the international credit rating market.

Regulatory approval and membership

China Chengxin Credit Rating Groups' subsidies and branches obtained license from all the regulators in China such as People's Bank of China, China Insurance Regulatory Commission, National Development and Reform Commission and China Securities Regulatory Commission.

China

Hong Kong

  • 2012 SFC Type 10: Providing credit rating services[16]

Sovereign credit rating

China Chengxin Credit Rating Group through China Chengxin International Credit Rating Company Limited released its sovereign credit rating report for 30 countries in July 2012, as follows:.[17]

Country Rating Outlook Date Ref.
Шаблон:Flag 05CCCg Negative 2014-07 [18]
Шаблон:Flag 19AAAg Stable 2012-07 [18]
Шаблон:Flag 12BBBg+ Stable 2012-07 [18]
Шаблон:Flag 19AAAg+ Stable 2012-07 [18]
Шаблон:Flag 17AAg+ Stable 2012-07 [18]
Шаблон:Flag 17AAg+ Stable 2012-07 [18]
Шаблон:Flag 16AAg Stable 2012-07 [18]
Шаблон:Flag 17AAg+ Stable 2012-07 [18]
Шаблон:Flag 01CCCg Stable 2014-04 [18]
Шаблон:Flag 11BBBg Stable 2012-07 [18]
Шаблон:Flag 10BBBg- Stable 2012-07 [18]
Шаблон:Flag 10BBBg- Negative 2012-07 [18]
Шаблон:Flag 11BBBg Stable 2013-03 [19]
Шаблон:Flag 18AAg+ Stable 2012-07 [18]
Шаблон:Flag 12BBBg+ Stable 2012-07 [18]
Шаблон:Flag 18AAg+ Stable 2012-07 [18]
Шаблон:Flag 19AAAg Stable 2012-07 [18]
Шаблон:Flag 07BBg- Negative 2012-07 [18]
Шаблон:Flag 14Ag Stable 2012-07 [18]
Шаблон:Flag 18AAg+ Stable 2013-07 [18]
Шаблон:Flag 19AAAg Stable 2013-07 [18]
Шаблон:Flag 14Ag Stable 2013-07 [18]
Шаблон:Flag 16AAg- Stable 2013-07 [18]
Шаблон:Flag 09BBg+ Negative 2013-03 [20]
Шаблон:Flag 19AAAg+ Stable 2012-07 [18]
Шаблон:Flag 12BBBg+ Stable 2012-07 [18]
Шаблон:Flag 08BBg Stable 2012-07 [18]
Шаблон:Flag 18AAg+ Stable 2013-03 [21]
Шаблон:Flag 19AAAg Stable 2012-07 [18]

References

Шаблон:Reflist

Шаблон:Authority control

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  1. ↑ 1,0 1,1 Ошибка цитирования Неверный тег <ref>; для сносок Gup2006 не указан текст
  2. ↑ Шаблон:Cite web
  3. ↑ 3,0 3,1 Шаблон:Cite web
  4. ↑ Шаблон:Cite web
  5. ↑ Шаблон:Cite book
  6. ↑ Шаблон:Cite web
  7. ↑ Шаблон:Cite web
  8. ↑ Шаблон:Cite web
  9. ↑ Шаблон:Cite web
  10. ↑ Шаблон:Cite web
  11. ↑ Шаблон:Cite web
  12. ↑ 12,0 12,1 12,2 12,3 Шаблон:Cite news
  13. ↑ Шаблон:Cite web
  14. ↑ Шаблон:Cite webШаблон:Dead link
  15. ↑ 中介机构>评级机构>Шаблон:Cite web
  16. ↑ Шаблон:Cite web
  17. ↑ Шаблон:Cite news
  18. ↑ 18,00 18,01 18,02 18,03 18,04 18,05 18,06 18,07 18,08 18,09 18,10 18,11 18,12 18,13 18,14 18,15 18,16 18,17 18,18 18,19 18,20 18,21 18,22 18,23 18,24 18,25 Шаблон:Cite web
  19. ↑ Шаблон:Cite web
  20. ↑ Шаблон:Cite web
  21. ↑ Шаблон:Cite web
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