Necessity to Establish an Independent National Credit Rating System

The credit rating industry is an important force for safeguarding national financial sovereignty,and a representative for the status of a country in the international financial services system.Based on an analysis of the damage upon China's credit rating market controlled by other countries,this paper states that there must be independent national credit rating agencies for safeguarding the rise of the Chinese people and China's financial industry.It's necessary for the cadres of the Party and governments to raise the right understanding of the importance of credit rating,to draft immediately Credit Rating Law and to rectify the controlled credit rating market in China,to develop actively the credit rating methods and rating criteria.