Chinanews.com, August 6th. According to the People’s Bank of China’s website, in order to promote the standardized development of the credit rating industry in my country’s bond market, the People’s Bank of China, together with the National Development and Reform Commission, the Ministry of Finance, the China Banking Regulatory Commission, and the "Notice on the Healthy Development of the Market Credit Rating Industry" (hereinafter referred to as the "Notice").
The "Notice" follows the direction of marketization, rule of law, and international reform. It puts forward clear requirements for credit rating agencies in terms of strengthening the construction of rating methods and systems, improving corporate governance and internal control mechanisms, and strengthening information disclosure. At the same time, it emphasizes optimizing the rating ecology. Strictly supervise and manage credit rating agencies.
The "Notice" is conducive to improving the quality and differentiation of credit ratings, further giving full play to the role of credit ratings in risk disclosure and risk pricing, creating a fair and just market environment, and promoting the credit rating industry to better serve the overall situation of the healthy development of the bond market.
In the next step, the People's Bank of China will continue to work with relevant departments to strengthen the supervision and management of the credit rating industry, promote credit rating agencies to effectively play the role of "gatekeeper" in the bond market, and help the bond market continue to develop in a healthy manner.