Problems for Credit Rating Industry in China and Countermeasures

The primary problem for credit rating industry in China is as follows: poor awareness of social credit,imperfect legal system;credit rating market with imbalanced supply and demand,excessive competition;with no uniform rating criteria,with no sound internal controls,etc.In future,it's necessary to quicken the development of social and institutional environment construction of credit rating industry,to strengthen construction of credit rating agencies,to intensify backstopping credit rating industry.