About Us

Dear Sir/Madam,

In these extraordinary times, where the whole world is fighting against the COVID-19 outbreak, S&P Global (China) Ratings is marking its first anniversary. And while these current events deserve the world’s attention, we still want to take a moment to recognize this milestone and thank those people who have supported us along the way.

We would like to take this opportunity to express our sincere gratitude for the support you have given to S&P Global (China) Ratings over the past year. We would also like to take this chance to provide you an update on our achievements over the last 12 months.

Since its launch, S&P Global (China) Ratings has published eight rating reports and more than 20 commentaries. We have actively engaged market participants inside and outside of China to share our insights. We have started an important dialogue with investors and issuers, wherever they are: in person, at our events, or via webinars and teleconferences. In all of those exchanges, we were met with tremendous support and thoughtful feedback. Today, we remain the only fully foreign-owned Credit Rating Agency permitted to serve China’s domestic bond market.

As we look ahead, S&P Global (China) Ratings will remain dedicated to principles of independence and objectivity. We will continue to provide issuers and investors from China and overseas with highly granular, forward-looking ratings, as well as providing independent insights into China’s credit market. We will continue to raise the bar on the level of analysis market participants have access to in China.

We would like to thank you once again for your support for S&P Global (China) Ratings. While the current COVID-19 outbreak poses a great challenge for us all, I have every confidence that we will get through this together. Please visit our website (www.spgchinaratings.cn) and follow our WeChat account (SPGlobalChinaRatings) for our latest research and events. If you have any questions, please feel free to contact us at any time. Stay healthy and stay safe.

Best regards,

Christopher J Heusler

Global Chief Commercial Officer

S&P Global Ratings

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Interim Measures for the Administration of the Credit Rating Industry

On November 26, 2019, the People's Bank of China, the National Development and Reform Commission, the Ministry of Finance and China Securities Regulatory Commission issued the “Interim Measures for the Administration of the Credit Rating Industry” (“the measures "). In response to reporters’ questions on the measures, representatives of the ministries and commissions involved highlighted the positive role played by the credit rating industry in the financial market, such as revealing credit risks, assisting in market pricing, improving market efficiency and improving the overall financing environment. Standardizing the development of the credit rating industry was a major policy measure mentioned in President Xi Jinping’s speech on “optimizing the structure and improving the financial market, financial institutions and financial product system".

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S&P Global (China) Ratings Completes Credit Rating Agency Filing

In accordance with the Interim Measures for the Administration of the Credit Rating Industry jointly issued by the People's Bank of China, the National Development and Reform Commission, the Ministry of Finance and the China Securities Regulatory Commission on November 26, 2019, the People’s Bank of China Operations Office has confirmed the registration of the credit rating business of S&P Global (China) Ratings Co., Ltd. (Unified Social Credit Code: 91110000MA01D5E362, Global legal entity identification code: 300300157VTG5K8JUH79).

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S&P Global (China) Ratings Recognized in its First Insurance Asset Management Association of China Evaluation

S&P Global (China) Ratings participated in the Insurance Asset Management Association of China (IAMAC) credit rating agency evaluation for the first time on July 20, 2020, and was recognized for its performance. IAMAC gave S&P Global (China) Ratings a score of 72.72 in its evaluation results, ranking the company third overall. This was S&P Global (China) Ratings’ first appearance on the association’s evaluation since it first received approval to rate domestic Chinese bonds in January 2019.

Conducted from the perspective of institutional investors in the insurance sector, this evaluation assesses 10 credit ratng agencies that provide professional services such as credit ratings for insurance fund investment. According to IAMAC, this year’s evaluation results comprise of a comprehensive quality score and a final score. The comprehensive quality score is based on a weighted summary of the credit rating agencies’ basic quality, rating quality and regulatory evaluation, reflecting the overall rating ability of the agency over an evaluation period. The final score is based on the comprehensive quality score, with added input from rating experts who evaluate whether or not the rating agency has been involved in a major credit rating incident, compliance violations or any other problems during the evaluation period.

S&P Global (China) Ratings received approval to enter the Chinese inter-bank bond market in January 2019, becoming the first wholly foreign-owned credit rating agency to carry out rating business in China. S&P Global (China) Ratings is committed to establishing a benchmark in China's credit market, providing differentiated and forward-looking credit ratings for issuers and investors at home and abroad, as well as more independent insights and transparent research on China's credit market. To date, S&P Global (China) Ratings has released more than 50 industry research reports.

Appendix: 2020 Final Results of Insurance Asset Management Association of China Credit Rating Agency Evaluation:

(Source: IAMAC)

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