Assuming the responsibility

发布时间:2016-11-14 11:39:20    点击:

  Dagong pays close attention to the development trend of credit-based economy, and reveals the deficiencies deep in the Western rating ideas. It constantly explores the ways of reforming the international rating system, offers advice for the building of China’s credit system, and contributes Dagong’s unique theory and wisdom to the world rating sector with indomitable willpower. Based on such practices, Dagong has determined to embark on the path of ‘Developing the National Brand through International Expansion’, that is, to contribute to the nation’s renewal through credit ratings, and share the rating wisdom created by the Chinese people with the rest of the world.

  1. Exploring the laws of credit-based economic development

  The practice has proved that credit rating is closely linked to the sound development of society. However, there has yet been any theory on such links. Without the theory, it would be impossible to avoid world credit crises caused by credit ratings. Therefore, it is necessary to explore the laws of credit-based economic development, identify the historical role of ratings in credit-based socio-economic progress, find the starting point for the research of laws governing credit ratings, and define rating responsibilities. Unswervingly, Dagong has taken the mission of exploring the laws of credit-based economy.

  2.Innovating credit rating thoughts and theories

  With the importance of credit ratings understood, the question of how credit ratings should be conducted needs to be answered. Since the existing Western rating practices have been proved incorrect, it is necessary to find the laws governing the credit rating, and navigate its development. To this end, Dagong has assumed the historical responsibility of innovating credit rating thoughts and theories.

  3. Studying the Western rating thoughts

  Currently, the Western rating thoughts are leading the international rating field. While blaming their incorrect ratings, people should understand the root causes of their mistakes. Only in this way can it be feasible to prevent credit catastrophes caused by flawed ratings. To this end, it is necessary to systematically study the Western rating thoughts. To give out authority conclusions, Dagong has carried out unprecedentedly extensive and systematic research.

  4. Reforming the international rating system

  Global credit crisis has triggered reflection of the causes of the crisis. It has been concluded that the flawed Western ratings were the source of the crisis; credit ratings are critical to the sound development of society, and the existing international rating system monopolized by the West is not qualified to provide reliable rating services for the whole world; it is necessary to build a new global rating system. There has been a widely call for reforms in today’s international rating system, which is also required for the advancement of history. As an answer to this call, Dagong has become the initiator and promoter of the reform.

     5.Revealing the demand for credit ratings

  Reforming the global credit rating system is a process of making adjustments to every aspect of the current rating system. This process requires a new pattern of thinking because the traditional pattern would stop people from acting in correct ways. For this purpose, Dagong has carried out in-depth research into the demand for credit ratings at a theoretical level and achieved outcomes that would renew people's understanding of the demand.

       6.Exploring the model of building a society-wide credit system

  Dagong has pioneered the designing of the model of building China’s credit system. For a long period of time in the future, consumption capacity formed through credit expansion would maintain the main engine for China’s economic growth. In this process, the relations between creditors and debtors would become one of the basic economic relations among members of society, and thus would be integrated into the economic foundation of this country. As credit is expanding to every corner of society, China would enter a credit-based stage of socio-economic development and join the ranks of developed countries in terms of credit expansion. In this stage, widely asymmetry in credit risk information would become the main problem undermining the steadiness of national economic foundation and the sustainability of socio-economic development. To respond to the change of basic national conditions, it is necessary to explore the model of building China’s credit system and offer the solutions in theory and practice.

  7.Building an Asian Credit System

  Building an Asian Credit System is a project for public interests that is required by the Chinese government. This credit system would enable the interconnectivity of local credit information and subsequently promote the interconnectivity of capital, and would drive the economic growth in this continent. This is new thinking on building new driving force for Asian economy, which requires efforts of competent professional institutions. Considering the general interests, Dagong has offered to take this mission in spite of no commercial benefits.

  8.Building a Eurasian Credit Rating System

  In the structure of global economy, Asia is at the center as a creditor economy while Europe is a debtor economy. Since the breakout of the global credit crisis, the positions of Asia on the side of capital supply and Europe on the demand side have been highlighted, and this situation requires a Eurasian credit rating system to be built to serve as a new bridge for capital flows between the two continents. To facilitate the building of this system of significance, Dagong has established branches in Europe and Asia directly and worked to build consensus through various measures.

  9.Building a Credit Knowledge System

  The biggest obstacle in building a new global rating system to safeguard the sound development of society is the absence of a credit knowledge system and the corresponding credit education. Without the two elements, it would be difficult to break the fetters of Western rating ideology, reform and unify the rating thoughts, and take quick action. However, there is a huge demand for credit education which has been formed amid the credit-based socio-economic development. To address the obstacle, Dagong, together with over 20 universities including Peking University and Tianjin University of Finance and Economics, has founded the Credit Education Union in an effort to build a credit knowledge system and disseminate credit knowledge. The establishment of the Union would have profound influence on the credit-based socio-economic development of the entire world.