CCX

China Chengxin International Credit Rating (CCXI) is a foundational entity in China's financial landscape, established in October 1992 by founder Mao Zhenhua. Its inception marked the creation of the country's first nationwide, joint-stock non-bank financial institution approved by the People's Bank of China to provide credit rating, financial bond consulting, and information services. Mao, an economist with a Ph.D. from Wuhan University, leveraged his background in economic research at various governmental bodies to pioneer market-based credit rating in China. Inspired by Deng Xiaoping's 1992 Southern Tour, he launched the venture that would develop the first credit rating system and methodology in the nation.

The firm operates as a comprehensive credit service provider, catering to a wide array of clients in China's inter-bank and exchange bond markets, as well as overseas. Its business model revolves around offering credit rating services, investor services, and specialized certifications. A significant milestone in its history was the strategic partnership with Moody's Investors Service, which acquired a 49% stake in CCXI in 2006, making CCXI a member company of the global rating agency. This partnership enhanced CCXI's technical capabilities and rating methodologies. The company holds a commanding market share of approximately 40% in China, serving diverse issuers, including state-owned enterprises.

CCXI provides a broad spectrum of services through its subsidiaries. The company has executed the first ratings for nearly all bond types and financing instruments in China's capital markets. Its affiliate, CCXAP, was the first Chinese-funded rating agency licensed to operate in international markets, receiving its license in Hong Kong in 2012. Other subsidiaries focus on advanced credit analytics using AI and big data (CCXA), fixed-income data and solutions (HEYI Fin Tech), green finance and ESG assessment (CCXGF), and full-chain index investment services (CCX Indices). This structure allows CCXI to offer a holistic suite of products, from traditional credit ratings of corporate and financial institution bonds to specialized assessments in asset securitization, ESG, and compliance.

Keywords: credit rating agency, bond market, financial services, corporate ratings, financial institution rating, structured finance, sovereign rating, ESG assessment, green finance certification, investor services, risk analysis, China capital markets, Moody's partnership, Mao Zhenhua, fixed-income research, asset securitization, data analytics, CCXAP, inter-bank market, exchange market