China Chengxin Credit Rating Group

China Chengxin Credit Rating Group
IndustryBond credit ratings
Founded1992[1]
Headquarters
Beijing China Merchants International Financial Center
Beijing
,
China
Key people
Dr. MAO Zhenhua (Chairman)[2]
Owner
Websitewww.ccx.com.cn Edit this at Wikidata

China Chengxin Credit Rating Group (known as China Chengxin, or CCXI) was founded in Beijing on 8 October 1992 through the incorporation of China Chengxin Credit Management Co Ltd (renamed as China Chengxin Credit Management Co. Ltd. in 2002),[1] which is the first nationwide credit rating company of China.[3] Subsequently, it formed subsidiaries and established branches across China, including China Chengxin International Credit Rating Company Limited (the joint venture credit rating company among China Chengxin Securities Rating Company Limited, Fitch Ratings and International Finance Corporation established in 1999).[4] The share-holder structure of the joint venture company was changed in 2006 when Moody's came in to take over the equity positions of Fitch and the supranational institution.[5] The company is one of the few major credit rating agencies currently operating in China.[6]

According to CCXI's announcement, China Chengxin International Credit Rating Co., Ltd is 30% owned by Moody's Corporation via Moody's China (B.V.I.) Limited, and 70% owned by Beijing Zhixiang Information Management Consulting Co., Ltd, which is believed as ultimately owned by Mr. Mao Zhenhua and his family through a complex holding structure. [7]

China Chengxin Credit Management Co. Ltd. went to Hong Kong to set up its subsidiary, China Chengxin (Asia Pacific) Credit Ratings Company Limited, which received the Type Ten License from Hong Kong Securities and Futures Commission on 28 June 2012 and was an internationalization attempt after Dagong Global's expansion into the United States in 2010, which was considered eventually failed partially for political causes.[8][9]

China Chengxin Credit Rating Group has branches and subsidiaries operating in Beijing, Shanghai, Hong Kong, Shenzhen, Fujian, Wuhan, Shandong, Liaoning, Tianjin, Jiangsu, Zhejiang, Shanxi and Shaanxi.[10] In 2024, the number of CCXI's existing offices are 5, namely Beijing, Shanghai, Wuhan, Shenzhen and Hong Kong. [11]

In 2023, Yan Yan the long serving president of CCXI was replaced while remaining as Chairman.[12]

  1. ^ a b Benton E. Gup (20 July 2006). Capital Markets, Globalization, and Economic Development. Springer. pp. 200–. ISBN 978-0-387-24563-8. Retrieved 2 August 2013.
  2. ^ "China Chengxin Corp Website".
  3. ^ Katie Hunt (31 October 2012). "China ratings firms challenge US dominance". BBC.
  4. ^ "Fitch IBCA Announces Rating Joint Venture in Beijing". Fitch IBCA. Retrieved 11 April 2013.
  5. ^ Moody's Corp. "CCXI".
  6. ^ K. Thomas Liaw (1 November 2011). The Business of Investment Banking: A Comprehensive Overview. John Wiley & Sons. p. 352. ISBN 978-1-118-00449-4. Retrieved 2 August 2013.
  7. ^ "CCXI Shareholding Structure" (PDF).
  8. ^ "Hong Kong's role as China's global financial centre attracts China Chengxin credit rating company to set up". InvestHK. 31 July 2012. Archived from the original on 30 December 2013. Retrieved 30 December 2013.
  9. ^ sina_mobile (2010-09-25). "大公国际：不接受任何出让国家主权为条件的评级". finance.sina.cn. Retrieved 2024-06-26.
  10. ^ "分支机构". CCX. Archived from the original on 22 August 2015. Retrieved 2 Aug 2013.
  11. ^ CCXI Official Website. 12 July 2024 https://www.ccxi.com.cn/aboutus/contactus. {{cite web}}: Missing or empty |title= (help)
  12. ^ sina_mobile (2023-08-20). "这家知名评级机构更换总裁！将有何新打法？". finance.sina.cn. Retrieved 2024-08-27.