This well-known rating agency has replaced its president! What new tactics will be available? Rating | Institution | He Xin
Renowned rating agency Zhongxin International recently changed its president.
According to a reporter from China Securities, the President of China Chengxin International has recently changed, and Chairman Yan Yan will no longer serve as the President. He will be replaced by Yue Zhigang, former Chairman and CEO of China Chengxin Credit.
A relevant person from China Chengxin International responded to this to reporters, "In the future, China Chengxin International will seize the new situation, new requirements, and new opportunities of market development, strengthen research on rating theory and technology, deepen business transformation and product innovation, enhance comprehensive service capabilities, and further consolidate its leading position in the industry. At the same time, the company will firmly implement the 'going out' strategy, continuously enhance the international discourse power and influence of Chinese rating agencies."
It is reported that Yue Zhigang has been serving at China Chengxin Group for a long time, serving as Executive Vice President of China Chengxin Credit Rating and Chairman and CEO of China Chengxin Credit Reporting.
On June 13th of this year, the Wuhan Municipal Committee of the Chinese People's Political Consultative Conference held a supervisory chairman meeting. Yue Zhigang, a member of the Wuhan Municipal Committee of the Chinese People's Political Consultative Conference and the chairman of China Chengxin Credit Reporting Co., Ltd., proposed to actively connect government data platforms such as the government cloud, promote data sharing among departments in relevant policy measures, improve the integration of enterprise service policies on digital government platforms, and form a stable foundation for big data applications in the market.
China Chengxin International, formerly known as China Chengxin Securities Appraisal Co., Ltd., was founded in October 1992. It is the first national non bank financial service institution in China approved by the People's Bank of China to engage in credit rating, financial securities consulting, and information services.
The company is a credit rating and risk assessment service provider, engaged in credit rating business and investor service business in the interbank market, exchange market, and overseas market.
When the predecessor of China Chengxin International was founded, Mao Zhenhua participated. Mao Zhenhua is well-known in the industry and currently serves as the Chairman of China Chengxin Group and Chief Economist of China Chengxin International. Mao Zhenhua is also the co director of the Institute of Economics at Renmin University of China.
Before Yue Zhigang became the President of China Chengxin International, the company's President was concurrently held by Yan Yan, the Chairman of China Chengxin International.
According to public information, Yan Yan, male, born in 1965, studied and graduated from the undergraduate program in Statistics at the School of Economics and Management of Northwest Normal University from September 1985 to June 1989. He taught at the School of Economics and Management of Northwest Normal University. After obtaining a Ph.D. in Economics from Renmin University of China in 1996, he served as a professor and joint deputy director of the Institute of Economics at Renmin University of China. He is currently the chairman of China Chengxin International Credit Rating Co., Ltd.
Yan Yan wrote last year that China's credit rating industry has gradually grown with the leapfrog development of the bond market, going through three major stages: initial and slow development, rapid development, and transformational development. 2021 is the first year of transformation in the rating industry. With the increasing demand for high-quality and differentiated rating services in the market, as well as the tightening of industry regulation, the rating industry is accelerating its transformation, and industry problems are gradually being effectively improved.
Yan Yan believes that in recent years, with the deepening of two-way opening of China's bond market, the internationalization level of the rating industry has improved. Qualified overseas rating agencies have successively completed the filing in China, and some Chinese funded rating agencies have also begun to explore the layout of the international market. However, compared to "bringing in", the process of domestic rating agencies "going global" is slow, and there is still significant room for improvement in the discourse power of Chinese rating agencies.
According to the 2022 credit rating agency evaluation results released by the China Insurance Asset Management Association, the credit bond market continued to expand in 2021, and the overall performance of credit rating agencies has improved to a certain extent. Some institutions have performed at the forefront of the industry in terms of credit rating quality, report quality, and service quality.
Among them, China Chengxin International ranks second among 11 credit rating agencies in both comprehensive and final scores, second only to China Bond Credit Rating Co., Ltd. In terms of service quality and credit rating quality, the scores are ranked first and second respectively.
The results also showed that the scale of credit bonds continued to grow, credit risks continued to be exposed, and the credit rating industry has strengthened its requirements in rating quality and differentiation, internal control, information disclosure, and increased punishment for violations, which has put higher demands on the industry. To maintain the safe operation of insurance assets and effectively prevent and control risks, it is still necessary to further strengthen the monitoring and analysis of the rating quality of credit rating agencies.
