China Economic Report, China Development Network reporter Yang Hong reported on July 8, 2019, the China Association of Interbank Market Dealers issued《关于公布银行间债券市场内资信用评级机构注册评价结果的公告》( No. 15) said: the eleventh session of the fifth executive council of the Association The meeting was reviewed and approved, and reported to the People's Bank of China for record approval. It is now accepting the registration of the credit rating business of the inter-bank bond market by China Securities Pengyuan Credit Rating Co. Ltd. and Far East Credit Rating Co. Ltd. This marks that China Securities Pengyuan Credit Rating Co. Ltd. ("Zhongzheng Pengyuan") and Far East Credit Rating Co. Ltd. ("Far East Credit") have officially obtained qualifications for rating business in the inter-bank bond market.
It is reported that CSI Pengyuan has obtained the qualification of Class A business in the inter-bank bond market because of its excellent evaluation results. It can develop financial institution bonds, non-financial corporate debt financing instruments, structured products and overseas main bonds in the inter-bank bond market. The credit rating business; and the relatively low credit rating results of the Far East credit, obtained the B-class business qualification of the inter-bank bond market, only the financial institution bond credit rating business in the inter-bank bond market. So far, the inter-bank bond market rating agencies have expanded to nine, namely: China Chengxin International, Shanghai New Century, Oriental Jincheng, United Credit, Dagong Credit, Standard & Poor's, China Securities Pengyuan, Far East Credit and China Bond Credit (investment) People pay mode).
Founded in 1993, Zhongzheng Pengyuan was originally named “Pengyuan Credit Rating Co. Ltd.” and “Shenzhen Credit Rating Evaluation Company”. It was one of the earliest rating agencies established in China and has been approved by the People’s Bank of China, China Securities Regulatory Commission and National Development and Reform Commission. engaged in credit rating business nationwide, and has the qualification of insurance industry market rating business. Pengyuan International, a wholly-owned subsidiary of CSI Pengyuan, is licensed by the Securities and Futures Commission (SFC) of the “Tenth Type of Regulated Activities to provide credit rating services”. The results of the ratings can be published in Hong Kong and the European Union. Recognized.
xxZhang Jianwen, chairman of China Securities Pengyuan, said: As a professional credit rating agency established earlier in China, Zhongzheng Pengyuan has been focusing on the rating industry, adhere to the principle of “independence, objectivity and fairness” and actively participate in the construction of the national credit system. Capital market development provides professional credit rating services. At the end of 2016, the company successfully introduced China Securities Credit Enhancement Co. Ltd. a leading credit technology integrated service provider in China, as a major strategic shareholder. The shareholders and capital strength have been greatly enhanced, and the development direction has become clearer. It has established “standardization, specialization, technology, and international "Development strategy", focus on strengthening quality and risk control, and enhance market credibility. In 2017, in order to serve the national “One Belt, One Road” strategy, the company took the bond pass as an opportunity to vigorously develop overseas rating business, intensively cultivated in the Hong Kong dollar debt market, and actively promoted and completed several first-level rating projects in the industry. Wide attention has been paid to the market influence, and it is becoming an important force in the Chinese dollar rating agency. The approval of the Class A rating business qualification of the inter-bank bond market is of great strategic importance to China Securities Pengyuan. Thanks to the recognition and encouragement of the regulatory authorities and the market, the company will take this opportunity to further improve the rating system and internal control system. And the investor service system, adhere to the bottom line of compliance, work hard, do not forget the initial heart, do yourself well, and strive to develop into a professional rating agency with high credibility and trusted by the market, to make healthy development of China's rating industry. Greater contributions contribute to the high quality development of the Chinese economy.
Founded on February 15, 1988, Far East Credit Rating is China's first social professional credit rating company. It once had full license qualifications in the interbank and exchange markets, but after the 2006 welfare incident, the central bank suspended its bank. The rating business has led to the abolition of the license and this time it has returned to the interbank bond market.xx