Research On Credit Ratings Internationalization In China

Recent years, because the impact of global financial crisis and sovereign debt crisis in some European countries, many states gradually became aware of the credit rating industry importance for development of a country's financial market and economic security even national sovereignty. However, the international credit rating market has monopolized by the three major rating agencies of the U.S., which represent the interests of the United States, and they did not take responsibility of early warning in crisis. Instead, monopoly of the international credit rating market increases the economic crisis. Therefore, the credit rating industry in China is not perfect, the development of domestic credit rating industry, and take the credit rating industry in international development has become a trend.In this paper, the connotation of an international credit rating to make the definition of the living environment of the credit rating industry, development, international development and problems of motivation. Eclectic theory of international production and the use of external and market share theory, through a case the U.S. credit rating industry, drawing international development experience, compared the credit rating industry in different countries and international development strategies, the results show that the credit rating industry in China to seize upon crisis era a great opportunity to rebuild the financial order, policy-oriented and focus on promoting the development of localized rating agencies, the establishment of credit rating system, improve relevant laws and regulations. Propose the establishment of offices, mergers and acquisitions and other international development path based, gradually from the Asia-Pacific region to the Americas, Europe, expanding the regional development strategy. Two-stage strategy achieves the international development of Chinese credit rating industry step by step.