Dagong International Lu Baile: The BRICS mechanism has been deeply practiced, and the credit rating cooperation coincides with the right time.

Recently, the BRICS Industry and Commerce Forum Conference emphasized the improvement of financial cooperation and expanding credit rating cooperation. Since the first meeting of the Foreign Minister of the Vietnamese Brick State in the United Nations in 2006, it has gone through 16 years of glorious journey. In the context of the current centennial change and century epidemic, the "Chinese year" of the BRICS cooperation responds to world challenges with a more positive attitude. New vitality.

The BRICS mechanism is the backbone of "anti -globalization", achieved positive results in many fields, and the changes in the international situation promoted the expansion of BRICS cooperation to the credit rating field.

The "14th Meeting of the BRICS Leader Meeting Beijing Declaration", which was signed on June 23, 2022, reached a consensus, that is, under the current international situation full of uncertainty, the BRICS countries should deepen BRICS cooperation and adhere to multilateralism. , Promote the recovery of the world economy, the prevention and control of the epidemic, oppose unilateral economic sanctions and "long -arm jurisdictions", strengthen humanistic exchanges, and continue to carry out "BRICS +" cooperation to promote the processing process of the BRICS expansion. The backbone of "against globalization". The "BRICS+" cooperation model was proposed by China at the BRICS Xiamen Summit. For the first time, the dialogue between emerging market countries and developing countries has been established, and the scope of radiation and benefit of the cooperation between BRICS countries has been expanded. In the Beijing BRICS Summit in 2022, Iran and Argentina applied to join the BRICS countries, which also reflects the strong vitality and open and inclusive characteristics of the BRICS cooperation mechanism.

Since the establishment of the Golden Brick Cooperation Mechanism in 2006, the cooperation between the BRICS countries has achieved many pioneering and iconic results, and has become a positive, stable and constructive force in international affairs. The proportion of the total economic volume of the five -nation of BRICS rose from 11.7%in 2006 to 25.9%in 2021. The total trade proportion of trade in the same period increased from 11%to 19%, and the contribution rate of global economic growth exceeded 50 %, Becoming an important engine of world economic growth. BRICS countries have established institutions or mechanisms such as new development banks, new industrial revolution partnerships, and Aerospace Cooperation Committee. They continue to expand space in the fields of financial support, scientific and technological innovation, energy environment, and digital industry.

Broaden credit rating cooperation is of great strategic significance in the background of international changes. On the one hand, the trade volume of BRICS countries accounts for about 20%of the world's, but the trade with each other only accounts for 6%of their respective foreign trade, making BRICS economic and trade cooperation have huge growth potential. On the other hand, the rapid development of the BRICS countries still faces the breakthrough of structural transformation, infrastructure investment, and global value chain, which has led to a huge financing demand. In the trade investment exchanges, the BRICS countries are gradually making progress on the joint payment system and promoting the trade settlement of the domestic currency of the BRICS countries. International companies will choose the country's domestic currencies, including RMB, rupees, and rubles to conduct cross -border cross -border cross -border cross -border Receiving and payment, this drives more and more overseas entities to pay more attention to the financing of BRICS countries, strengthening credit rating cooperation can help BRICS countries reduce financing costs and achieve sustainable growth. In addition, changes in the international situation have once again valued the credit rating security, and also reiterated that the BRICS rating cooperation was reiterated in the 14th meeting of the BRICS leaders.

BRICS countries continue to explore in the field of credit rating and cooperation and make certain progress in practice.

As early as 2008, the BRICS countries began to actively promote the reform of the international rating system within the G20 framework. In 2013, a multilateral cooperation company internal cooperation companies in the BRICS member states opened the exploration of BRICS credit rating cooperation. In 2016, the issue of the establishment of a new rating agency of the BRICS country was introduced into the BRICS Summit, and the possibility of the establishment of a BRICS national rating agency was further discussed in the "Guoa Declaration". Subsequently signed the Memorandum of Understanding the Credit Rating Cooperation Cooperation Cooperation Cooperation Cooperation Cooperation Cooperation and Cooperation Cooperation of BRICS countries.

Dagong International continues to explore and practice on the road to promoting credit rating in the BRICS countries. In September 2019, Dagong International was invited to participate in the "All Financial Group of the BRICS State Council of Industry and Commerce", and as a representative of the rating institution to take the lead in the issue of the construction of the BRICS Credit Rating Agency; in December 2019, Dagong International International Entrusted by Russia's Natural Gas Industry Petroleum Corporation for its main rating for it; in June 2020, the Central Bank of Russia incorporated Dagong International into "the bank's required level to open a foreign currency receiving account for the issuer", and the Grand Duke International became the four internationals recognized by the Russian central bank. One of the rating agencies and the only Chinese rating agency.

Due to the difficulty of entering the international market and obtaining reliable data, the cooperation between the BRICS countries in the field of credit rating has slowed slightly in recent years. In 2022, the new background evolution and new needs. In the new turbulent change period, the demands of developing and promoting cooperation in emerging markets, including the BRICS countries, and the establishment of a cross -border payment system for the BRICS countries and the BRICO rating agency will be gold. Brick financial cooperation payment settlement and financing pricing provide strong help.

Broaden credit rating and cooperation to add bricks to the BRICS mechanism.

The Beijing BRICS Summit in 2022 is a special opportunity period given by the Time, which makes credit rating cooperation is expected to become the third pillar of the financial order within the new development bank and emergency reserves (CRA). In order to realize this concept, the BRICS countries need to be more united and cooperative, actively explore the construction of a global credit rating system, and build a BRICS rating agency to achieve interoperability and mutual recognition of internal rating. For domestic rating agencies, under the guidance of new policy, we should actively explore the high -quality development of the rating industry and achieve docking with the BRICO rating agency. 1. BRICS countries should cooperate to build a new global credit rating system and strengthen strategic layout to enhance the influence of BRICS credit rating.

The BRICS countries are always committed to promoting the reform of the international rating system, with the concept of openness, tolerance, win -win cooperation, and adherence to the common interests of most people around the world as the starting point to build a new type of tolerance, development, keeping with the times, and adapting to local conditions. The credit rating system is to improve the disadvantages of the current Western leading rating system. When constructing rating methods and systems, we cannot copy the three international rating agencies. They should establish credit rating standards that meet national development according to the characteristics of different markets, and effectively respond to the issues of bond market financing and credit rating concerned by developing countries in order to objectively respond to objective rating. , A fair and independent attitude provides credit risk information for the global bond market.

In addition, the BRICS countries should strengthen the strategic market layout and participate in international cooperation. BRICS countries should play a strategic vision to make strategic layouts in multi -regional and markets around the world, focusing on the growth potential markets of growth and emerging potential in Latin America, Southeast Asia, and Middle East and Northern Africa to build a network and international rating system. At the same time, through the form of the establishment of the BRICS Credit Rating Industry Association, it can strengthen cooperation and coordination with the Asian and European Credit Rating Association, so that the reform of the international rating system promoted by the BRICS countries can be recognized globally, and the BRICS Even the influence of credit rating in the global market.

2. The BRICS member states have established a BRICS credit rating cooperation mechanism and a BRICS credit rating agency to gradually realize the internal rating interconnection of the brick.

Inside the BRICS country, a dialogue mechanism for rating and cooperation interconnection should be established to meet the differences between the cultural genes, social and political systems and interests of the BRICS countries, and build a credit core value system that is generally recognized in the BRICS system from the bottom. Through the dialogue mechanism to strengthen the advanced experience of national regulatory agencies, rating agencies, and industries, share experience in the development of rating business, credit rule of law, national brand protection and credit information security, etc. The system promotes the coordinated development of the internal credit rating of the BRIC.

BRICS countries can create a BRICS credit rating cooperation mechanism with internal rating mutual recognition, data sharing, and technical exchanges. Promote the recognition of the internal credit level of the BRICS at the regulatory level, and establish the internal level of the BRICS. At the industry level, association organizations are established to unify system specifications and realize self -discipline management. Data sharing at the institutional level and regular exchanges. Relying on the cooperation mechanism, we actively promote the construction of a BRICS national rating agency, and accept more economies with an open and inclusive concept, thereby expanding the influence of the BRICS credit rating agency and gradually participating in international market competition.

3. Domestic credit rating agencies should hardly refine internal work, strengthen the high -quality development of the credit rating industry, and dock with the BRICO rating agency.

Domestic rating agencies should practice internal skills in strengthening compliance management, improvement of rating technology, and improving rating quality in order to deal with new challenges and in the face of changes in the judicial environment, supervision environment, bond market, and internal and external macro environments. Opportunities will help the domestic rating industry's high -quality development, and ensure that the team will not be dropped when strengthening the BRICS credit rating cooperation.

At the same time, the internal rating agencies of the BRICS countries shall develop exchanges and cooperation in multi -angle wide fields. Domestic rating agencies should actively conduct technical exchanges with the five -nation rating agency of the BRICS, and regularly discuss the domestic macro situation, industry development, and bond markets of the five countries of the BRICS, and form influential research results to display the world to the world. , Attract the participation of more developing national rating agencies. Domestic rating agencies can also carry out in -depth technical cooperation with different domestic rating agencies in the five domestic rating of the BRICS five, and assign technical personnel for long -term exchanges. Promote the high -quality development of domestic rating agencies with exchanges and cooperation, and gradually realize docking with BRICS rating agencies.

(Author is the party committee secretary and chairman of Dagong International Credit International Credit International Credit International Credit Evaluation Co., Ltd.)

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