中资信用评级机构开放发展策略研究  

Research on the Open Development Strategy of Chinese Credit Rating Agencies

作　　者：简尚波 Jian Shangbo

机构地区：[1]远东资信评估有限公司

出　　处：《西南金融》2019年第12期23-32,共10页Southwest Finance

摘　　要：近年以来,中资信用评级机构评级债券规模实现快速增长,但其发展面临行业监管制度、机构自身建设、市场运行环境和成效等诸方面影响和制约,尤以信用评级区分度不高、公信力不强为突出表现。尤其当前中国债券市场和信用评级行业处于全面对外开放新时期以及中国信用债违约形势趋于严峻的背景下,中资信用评级机构面临加快开放发展的紧迫性。本文结合以上情况,参考三大评级巨头等为代表的国外评级机构运营及其监管经验,提出了优化评级行业监管方式、整饬评级市场秩序、加快评级机构实力建设、助推评级机构国际化进程等促进中资信用评级机构开放发展的对策建议。In recent years,the scale of Chinese-funded credit rating agencies'rating bonds has achieved rapid growth,but its development faces the impact and constraints of various aspects such as the industry regulatory sys⁃tem,the institution's own construction,the market operating environment and effectiveness,especially manifested in low credit rating differentiation and weak credibility.In particular,under the background that the current situation of China's bond market and credit rating industry is in the new era of comprehensive opening up and the default situa⁃tion of China's credit bonds is getting worse,Chinese credit rating agencies are faced with the urgency of accelerat⁃ing open development.Based on the above situation,referring to the operation and supervision experience of foreign rating agencies represented by the three major rating giants,this paper proposes suggestions for promoting the open development of Chinese credit rating agencies including optimizing the supervision of the rating industry,rectifying the order of the rating market,speeding up the building of rating agencies,and promoting the internationalization of rating agencies.

关 键 词：信用评级机构 信用评级市场 信用评级 评级监管 债券市场 债券融资 信用债 违约风险 信息不对称 国际信用评级 金融全球化 对外开放 人民币国际化 

分 类 号：F832.5[经济管理—金融学] F740