On Strengthening The Countermeasures Of China's Credit Rating System

Credit ratings is playing an irreplaceable role in the field of international finance as a warning tools of financial risks and the pricing basis of financial products. With the development of China's social-economic and the deepening of exchanges of the international economies, the importance of Credit ratings to the entire financial system is more and more prominent. China's credit rating system only has a development history about 20 years, compared with the world advanced level; there is still a wide gap on system construction and technical skills, which impede the development needs of our financial system and social credit system to a certain extent. In this paper, the author discussed the experience of several countries of the world on building the credit rating system, combined the unique condition of China's social-economic level, and summed up the main problems of our credit rating system. And more than that, after the world financial crisis, the world's leading credit rating agencies are widely questioned because of their failure on the disclosure of risks in time, the credit rating systems are faced with great changes all over the world. On this basis, this paper mainly studies how to improve China's credit rating system, and provide policy advisement on the contribution of China's credit rating system.