The development and self-discipline management of the credit evaluation industry

Credit rating industry development and self-discipline management

1. The Significance of the Development of the Credit Evaluation Industry

From the perspective of the development history of the credit evaluation industry in developed western market economies, the birth of the credit evaluation industry stems from the lack of social credit. The normative force of the economy itself is an indispensable part of the market economy. It can be said that without the development and growth of the credit evaluation industry, it is impossible for our country to truly establish an effective social credit system.

Second, the management model of the credit evaluation industry

Regarding the management model of the credit evaluation industry, there are different debates in China. One side believes that government management is needed, that is, to establish a special credit bureau or designate an existing ministry to manage it; the other side believes that according to the international practice, In accordance with the laws of market economy and the spirit determined by the "Administrative Licensing Law", the industry associations conduct self-discipline management. As an industry association of international credit institutions, we certainly believe that an industry self-regulatory management model should be adopted.

Regarding the management of the credit evaluation industry, the common practice in the world is: self-regulatory management of the industry based on voluntary participation. That is to say, credit companies voluntarily form or join credit associations, and then formulate and abide by self-regulatory standards. Here, this plan emphasizes its voluntary nature, because the mandatory power of industry self-regulatory standards itself comes from voluntary nature.

3. Establishment of credit institutions

Regarding the establishment of credit institutions, whether to set market access conditions, there are also different debates in China? This kind of debate is combined with the management model of the credit evaluation industry. Some people think that the credit evaluation industry is a specific industry, and market access conditions should be set; , market access conditions cannot be set. If the country adopts the mode of government management, it will eventually set certain market access conditions; similarly, if the country sets certain market access conditions, it will eventually adopt the mode of government management. We believe that the credit evaluation industry is a competitive industry, and like other industries, only the market economy standard of fair competition and survival of the fittest can guarantee the rapid and healthy development of this industry. Considering that the establishment of an administrative access system for the credit evaluation industry will bring about a "regulatory vicious circle" " and "the effect of concealing ugliness" will ultimately damage the healthy development of the credit evaluation industry. We suggest that the Chinese government should not set up administrative access for the establishment of credit institutions, but follow the principles of market economy and not set thresholds for the establishment of credit institutions, so that credit companies The establishment of the company is as easy as setting up other companies. In the past, although there was no law expressly prohibiting it, due to the influence of ideas, the credit evaluation industry has always been regarded as a specific industry in China, and private capital cannot enter. Now, the "Administrative Licensing Law" is promulgated , has just opened up the credit evaluation industry, but the industry has been spreading the news that the state will regulate and establish administrative access. If the State Council issues credit regulations, it is recommended to carefully consider market access.

Fourth, our management of credit institutions

We manage credit institutions through industry self-regulatory standards. Credit institutions that agree with the association's charter and self-regulatory standards can apply to join the association, and then the association establishes credit files for them, authorizes them to carry out credit business such as credit evaluation according to the association's standards, and shares the credit of the association If the information database violates the self-regulatory standards, it will be severely punished according to the self-regulatory standards.

V. Our examination and management of credit professionals

We have compiled credit training materials suitable for the actual situation in our country for the training and evaluation of credit professionals. At the same time, establish a credit file for each credit professional, and manage credit professionals according to self-discipline standards to ensure that credit practitioners do not violate the practice guidelines and professional ethics.