Vice premier: China backs new global credit rating system

BEIJING, June 23 (Xinhua) — China supports the development of a new international credit rating system that is objective, just, rational and balanced, Chinese Vice Premier Zhang Gaoli said here on Monday.

During a meeting with international personages attending an Asian credit system forum in Beijing, Zhang said China is ready to work with all other countries to push for the perfecting of the existing credit rating system and the establishment of an Asian credit rating system and standards that suit regional characteristics.

Zhang said during the meeting that China is accelerating the development of its social credit system, pushing forward sharing of government information and promoting credit in the administrative, business and social sectors.

He said China is ready to make positive contributions to reform of regional and international credit systems on the basis of building its own domestic credit system.

De Villepin said the establishment of UCRG will help change the state of the international credit rating system and promote its improvement. He said the UCRG is ready to play an active role in economic development of China and the whole Asian region.

Full article: Vice premier: China backs new global credit rating system (Global Post)

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