Securities Intermediaries In China Credit Research

The credit of security agency is promising and coming true in broad sense, and it includes two meanings: one is the security agency must conforms to the obvious and latent contract among the investor,, company, supervisor and they must work fairly; One is that they have ability to make their promise come true. They cannot break their words for capability. Weather these security agency keep their words or not according to gamble theory. The securities agency, s credit is in favor of solving dissymmetry between investor and company or securities agency, and reducing the exchanging cost.There are serious credit crises in American as Anon affair having happened in 2001. They have greatly baffled the economic recovery of American, even of the world. The whole American attached importance to these crises, and took many steps such as punishing the company and securities agency, strengthening the supervising to securities agency. They also brought forward some reforming measures such as enhancing the security agency, s independence, intensifying exterior supervising, ameliorating fiscal criterion. These have eased up the affect of crisis greatly, and improved the investor, s confidence.There are so many grievous crises in market economy of American, thus it is common that has some credit crises in our rising market. There are some questions such as the low cost of breaking faith, dependence, inaccurate function, the distempered ness of punishing and credit system. The most important is study the Columbian good experience, and how to apply it to construct our credit system.To father the our agency breaking faith, we should perfect the criterion of agency, so that to improve its quality of working; Strengthen the construction of gild, and self-discipline; purify the working environment; strengthen the construction of credit system and rules of law; practice partnership system, improve the independency of agency; enhance the diathesis of whole staff.The innovation of this paper is that has analyzed the breaking faith of agency entirely, constructed the theory frame of breaking faith, furthermore, compared and anatomized it from the history, the world, and the reality, also break forward some new ideas. These have some merits to extend the scope research of finance, accountancy,and to prevent and cure the breaking faith. I think the profits of this article must have been showed going with the innovation of credit system of securities business.