| With the deepening pace of market economy in China after its entrance to WTO, the trading system is thoroughly into buyer's market, which directly induced the competition among enterprises. Due the pressure per se, lots of enterprises have to use sale on credit as a major means for their product sales. The level of credit management has become to the important factor, which influences a company's competitive advantage or survivorship,under the circumstance of many company run out of rule. Evaluating a company's credit level is belonged to pro-control step of enterprise credit management. It's the foundation of a company's credit policy. In this dissertation a new credit rating method named "Layered Qualitative Grading" (LQG) method which is designed to meet the need of enterprise credit management has been established after an in-depth study of the process,object of credit management and characteristic of credit methods. An in-depth study of Chinese enterprise credit management situation has been made in this dissertation. The statistic expresses that a great deal of profit has been cut down by default loss and opportunity cost due to postponed payment. More study shows that the ultimate cause of default loss ispoor credit management level of corporation although the exterior cause is default. Most default loss can be avoided by scientific credit management process. The difference of enterprise credit management level between Domestic Corporation and overseas corporation and correlative statistic of default loss also validate this conclusion. It is a very important step for credit management to exactly evaluate a company's credit risk. The conclusion of this process is what credit policy dependent on, and its accuracy decides whether credit management can reach it's object. Relevant statistic expresses that poor rating accuracy will make higher cost at post-control step of credit management. High accuracy, high efficiency and low cost of credit rating method are the demands of corporation's object to pursue max profit, and it is also the core object of study in this dissertation. Although credit-evaluating method has been developed for more then 100 years up to now, traditional credit rating method still keep leadership at accuracy. The core of credit rating is to fully disclose credit risk of special debt, ascertain the probability of default and it's severity on the basis of qualitative analysis and quantitative analysis via fully examine the factor and it's trend which can impact solvency of issuer, ascertain credit level and release credit symbol on the basis of static analysis and dynamic analysis.High accuracy of credit rating also profit from a suit of strict rating program. Such as information collection, primary analyze, field survey, primary evaluation, rate comment, opinion consult, rate confirm, rate track and etc. Rate comment is a process which rate committee confirm credit rate by vote. The coherence and stability of rate committee's comment is very important for a credit rating corporation. Although credit rating has high accuracy, but it's high level of specialization, low efficiency and high cost does not fit enterprise credit management.Credit evaluation method on the basis of statistics foundation shows good performance in the aspects of efficiency of credit analysis, consistency of result, as well as comparability. The fundamental theory is, by analyzing the occurrence of default in a view of statistics, to get enterprise characteristic with the highest correlation related to probability of default. It also can establish the recognition function, which can be used at once to calculate the probability of default for a specified enterprise as long as introducing the characteristic of that enterprise as input. The " Ze-ta" judgment and analysis model is a typical model by using the method mentioned above. But the model has the shortcomings such as bad transparency, low accuracy, lack of the prospect and flexibility, which makes it only proper for credit evaluation...
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