Experts Advocate the Establishment of Credit Rating System

The China Banking Association, together with related institutions, held a forum in Beijing on January 10 to summarize the experiences and lessons learned from the global financial crisis and to further raise social awareness of the important role credit ratings do play in the financial market.

The discussions on the forum were mainly on the status and function of credit ratings since the financial crisis occurred, focusing on issues such as the new global financial order, the development of the credit rating industry in China, as well as the evolution and prevention of credit risks in economic globalization.

Experts who attended the forum believe that an in-depth understanding of development rules in a credit economy and the speeding up of the establishment of a credit rating system in China are key factors in safeguarding the healthy development of the country's financial industry.