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Dagong Global Credit Rating ( Chinese: 大公国际资信评估有限公司; pinyin: Dàgōng Guójì Zīxìn Pínggū Yǒuxiàn Gōngsī) is a state-owned credit rating agency based in China . History. The company was established in 1994, following approval by the People's Bank of China and the State Economic and Trade Division of the People's Republic of China. [1]
- I. Introduction
- II. Global Expansion of Dagong
- III. Dagong’S Business Operation in China
- IV. Dagong’S Geopolitical Bias
- IV. Conclusion
Dagong Global Credit Rating Co Ltd (Dagong) was founded in 1994. It became one of the few independent Chinese credit rating agencies (CRAs) after other influential CRAs merged with the main international players during the internationalisation of the Chinese rating industry from 1999. In its heyday, Dagong was a national representative, which succe...
Dagong’s expansion in the US and the EU aimed to express its influence in the international financial market and to challenge the oligopoly of the international influential CRAs, although with little success. Dagong applied for NRSRO status with the US Securities and Exchange Commission (SEC) but received a denial order in 2010. The main reason for...
Chinese regulators took unprecedented measures to discipline the imprudent CRA, Dagong, despite it being the national brand. Dagong’s business operation suffered heavily in 2018 because of its one-year suspension for breaching Chinese securities law. According to the NAFMII, Dagong had breached the basic standards of the rating industry, such as be...
Dagong represents a unique case where a geopolitical bias has a significant part to play in sovereign ratings. Studies have showed no significant correlation between geopolitical ties and a home bias for all CRAs except Dagong, which was more likely to assign higher ratings for ‘non-Western’ countries.11 Dagong’s published sovereign ratings in 2010...
Dagong’s rise in the international financial market was driven by an ambition to influence the international financial market and to pursue the geopolitical interests of the Chinese government. Dagong exerted great effort in expanding international business operations in the US and the EU in the last decade, but all in vain. Dagong’s sharp rise and...
- Chunping Bush
- 2021
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大公国际资信评估有限公司（以下简称“大公国际”）成立于1994年，是中国人民银行和原国家经贸委共同批准成立的全国性信用评级机构，拥有政府监管部门批准的全部评级资质，能够对中国资本市场所有债务工具和参与主体进行信用评级。
Jul 12, 2021 · Photo: VCG. Dagong Global Credit Rating Co. Ltd., one of China’s largest debt ratings agencies, has been ordered to rectify its operations after allegedly failing to adequately scrutinize or inspect the businesses it was evaluating, earning its second official sanction in a month.
Founded in 1994, Dagong Global Credit Rating Co., Ltd. (hereinafter referred to as Dagong), is the only national credit rating agency that obtains the joint approval of the People’s Bank of...
As a pioneer in setting up credit rating standards on industries, regions and sovereignties in China, Dagong participated in designing and popularizing most of domestic debt instruments, and is also leading the credit rating market in corporate bonds, financial bonds and structured financing bonds.
Jun 29, 2021 · Abstract. Dagong Global Credit Rating Agency (Dagong) was originally branded as a Chinese national representative credit rating agency. Its international expansion in the US and the EU, in...
