China Chengxin Credit Rating Group Company Information and Ownership Structure

China Chengxin Credit Rating Group is a leading credit rating agency in China, providing independent and impartial credit ratings and research to the market. It was founded in 2004.

The company is headquartered in Beijing, China, and has a strong presence in the country's financial industry. China Chengxin Credit Rating Group is a subsidiary of China Chengxin International Credit Rating Group Co., Ltd.

China Chengxin Credit Rating Group has a team of experienced professionals who provide credit ratings and research services to financial institutions, corporations, and governments.

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China Chengxin Credit Rating Group has obtained licenses from all the regulators in China, ensuring its credibility and reliability.

The People's Bank of China has granted a license to China Chengxin Credit Rating Group's subsidiaries, giving them the green light to operate in the country.

China Insurance Regulatory Commission has also issued a license to the group's branches, allowing them to provide rating services to the insurance industry.

The National Development and Reform Commission has licensed the group's subsidiaries, further solidifying their position in the Chinese market.

China Securities Regulatory Commission has also granted a license to the group's branches, enabling them to provide rating services to the securities industry.

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China Chengxin Credit Rating Group is a renowned credit rating agency that provides comprehensive evaluations of a country's or institution's creditworthiness.

The group released a sovereign credit rating report for 30 countries in July 2012.

China Chengxin International Credit Rating Company Limited assigns credit ratings to various entities, including sovereigns and financial institutions.

CCXI assigns an Issuer Credit Rating of AAA to IBEC with a Stable Outlook.

IBEC has the following credit ratings: ‘ААА’ from CCXI with a stable outlook (04/07/2024) and ‘ААА(RU)’/‘ВВВ+’ from ACRA with a stable outlook (19/02/2024).

The Bank's capital strength indicators show relatively strong performance.

CCXI highlights the Bank's prudential liquidity management, which allows its current assets to fully cover its short-term debts.

IBEC supports the import and export trade operations of its member states through various instruments such as trade finance, direct financing, debt investments, and guarantees.

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China Chengxin Credit Rating Group has a clear and transparent ownership structure. The company is a joint-stock enterprise, with the China Securities Regulatory Commission (CSRC) as its largest shareholder.

The CSRC holds a 64.39% stake in the company, while other shareholders include the China Chengxin Investment Co., Ltd. and the China Chengxin Credit Rating Co., Ltd. With this ownership structure, the company is well-positioned to maintain its independence and objectivity in the credit rating process.

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China Chengxin Credit Rating Company (CCXI) has faced suspension of its license in China due to a high-profile bond default case. The company was suspended by the National Association of Financial Market Institutional Investors (NAFMII) for three months in 2020.

CCXI failed to properly conduct on-site due diligence on Yongcheng Coal & Electricity Holding Group, which led to the suspension. This was a major oversight that had significant consequences.

The suspension of CCXI's license prevented the company from conducting new rating business for debt financing instruments during the three-month period. This was a significant blow to the company's operations.

In 2024, CCXI is allegedly under investigation by the China Securities Regulatory Commission for its role in providing financial services to Evergrande Group. The investigation is ongoing and has not yet been concluded.

The investigation is linked to CCXI's assignment of "AAA" ratings to five bonds issued by Evergrande since 2020. This has raised concerns about the company's credit rating practices.

The Chinese government has taken steps to strengthen the responsibilities of intermediaries like CCXI. The Office of the State Council published a document outlining measures to improve the comprehensive punishment and prevention of financial fraud in the capital market.

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Mao Zhenhua is the ultimate owner of CCXI, according to Wuhan University's alumni page.

Mao Zhenhua was born in 1964 in Shishou, Hubei.

He received his bachelor's degree from the economics department of School of Economics and Management, Wuhan University in 1983.

Mao Zhenhua was awarded the doctoral degree in economics from Wuhan University in 1996.

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China Chengxin Credit Rating Group has a significant presence in China, with branches and subsidiaries operating in multiple provinces, including Beijing, Shanghai, Shenzhen, Fujian, Wuhan, Shandong, Liaoning, Tianjin, Jiangsu, Zhejiang, Shanxi, and Shaanxi.

They have a long history of domestic market dominance, capturing the largest overall market share due to their first comer status and expertise acquired from international credit rating agencies.

China Chengxin Credit Rating Group has expanded its reach globally, establishing a subsidiary in Hong Kong, China Chengxin (Asia Pacific) Credit Ratings Company Limited, which received the Type Ten License from the Hong Kong Securities and Futures Commission on 28 June 2012.

This marked a significant milestone, as China Chengxin became the first Chinese credit rating company to venture into the international capital markets.

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