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The company was established in 1994, following approval by the People's Bank of China and the State Economic and Trade Division of the People's Republic of China. [1]In May 2009, an agreement of mutual cooperation was signed with Xinhua News Agency, reported as "promoting a national credit rating system". [2]
China Chengxin Credit Rating Group (known as China Chengxin, or CCXI) 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. [3]
Fitch Ratings typically does not assign outlooks to sovereign ratings below B− (CCC and lower) or modifiers. CCC indicates 'Substantial Credit Risk' where 'default is a real possibility'. CC indicates 'Very High Levels of Credit Risk' where 'default of some kind appears probable'. [104]
BEIJING (Reuters) -Ratings agency Fitch revised its outlook on China's sovereign credit rating to negative on Tuesday, citing risks to public finances as the economy faced increasing uncertainty ...
Rating Action: Moody's takes rating actions on 13 Chinese securities companiesGlobal Credit Research - 08 Mar 2021Hong Kong, March 08, 2021 -- Moody's Investors Service has taken rating actions on ...
Tomohiro Ohsumi/Bloomberg BEIJING - Global ratings agency Fitch cut China's long-term local currency credit rating to A-plus from AA-minus on Tuesday with a stable outlook, citing financial risks ...
With the strategy of business internationalization as instructed by the Chinese central government, the Chinese rating agencies began establishing international branches in Hong Kong since 2012. As of 2020, the major Chinese international credit rating agencies are Lianhe Rating Global, China Chengxin (Asia Pacific) and Pengyuan International ...
The Social Credit System (Chinese: 社会信用体系; pinyin: shèhuì xìnyòng tǐxì) is a national credit rating and blacklist implemented by the government of the People's Republic of China. [ 1 ] [ 2 ] The social credit system is a record system so that businesses, individuals, and government institutions can be tracked and evaluated for ...