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Company Profile

China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) was established under the Hong Kong Companies Ordinance in October 2010 and received a Type 10 License (Providing Credit Rating Services) from the Hong Kong Securities and Futures Commission on 28 June 2012, becoming the first Chinese credit rating company from the Mainland operating in the international market.

 

At the time of its inception, CCXAP was a subsidiary of China Chengxin Credit Management Co. Ltd. (CCCM), the first Chinese credit rating company established in China in 1992, which subsequently established China Chengxin Securities Rating Company (“CCXR”) in Shanghai and joint-ventured with Fitch and IFC of the World Bank Group in 1999 to form China Chengxin International Credit Rating Company Limited (“CCXI”). The share-holding of CCXI was restructured in 2006 that CCCM held 51% and Moody’s held 49% of the company shares.  In order to enhance the credit rating capacity, the China Chengxin Credit Rating Group went through a share-holding re-organisation in March 2017 that CCCM and Moody’s respectively holds 70% and 30% of CCXI; CCXI holds 100% of CCXR; and CCXR holds 100% of CCXAP. 


Click to view the CCXAP video:     English Version           Chinese Version 

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            Milestones of China Chengxin Credit Rating Group

1992

 l   China Chengxin Credit Management Company Limited was founded on 8 October, 1992, formerly known as China Chengxin Securities Appraisal Co., Ltd., it was approved by People's Bank of China  and was China's first joint-stock non-bank financial institution offering credit rating services, finance and securities consulting and information services. In September 2002, after receiving the approval of the State Administration for Industry and Commerce, China Chengxin Securities Appraisal Co., Ltd. was renamed China Chengxin Credit Management Co., Ltd.

1997

 l    Established China Chengxin Securities Rating Company Limited

 l    Accredited by People's Bank of China to provide credit rating          services for debt securities

1999

l Joint ventured with Fitch and International Finance Corporation to form China Chengxin International Credit Rating Company Limited until 2004

2003

l       First batch of credit rating companies recognized by China Insurance Regulatory Commission

l     Accredited by State Economic and Trade Commission to participate in small and medium enterprises credit rating pilot project

2005

l     Received the license from People's Bank of China to provide credit rating for inter-bank notes

2006

l    Sold 49% shares of China Chengxin International Credit Rating Company Limited to Moody's Investors Service, Inc., forming a new joint venture to provide credit rating services in the domestic market of China

2007

l     Authorized by China Securities Regulatory Commission to provide credit rating services for debt issues listed on the Chinese stock exchanges

2012

l      Formed China Chengxin (Asia Pacific) Credit Ratings Company Limited, the first Chinese credit rating agency received the Type 10 License (Providing Credit Rating Services) from the Hong Kong Securities and Futures Commission.

2015

l Rated the first Panda Bond (the HSBC Panda Bond) issued by non- multilateral institutions.