Articles & Speeches

It is Imperative to Reform the International Rating System

May 18, 2015 07:09 PM Author dagong Font:TTT

Igor Ivanov

When it comes to the reform of credit rating agencies, it should be an important component of the overhaul of the global economic and financial system. These years, we are living in an ever-changing world, where there is rapid change and development of reforms. We cannot wait passively, or we will see opportunities fade away and be confronted with problems. We have seen political issues and economic crises in some places. Therefore, it is imperative to reform the international rating system.

For the time being, the Sino-Russian relationship has stood at a historical high level. In politics, security, economy, culture and other aspects, the bilateral relationship has reached an unprecedented height, which we can sense. On May 20, Chinese President Xi Jinping and Russian President Vladimir Putin declared in Shanghai that the Sino-Russian strategic partnership has entered a new stage. Both Presidents agreed that both countries would endeavor to change the current political and economic system and make contributions to building a new internationally political and economic system, in which all countries, entitled with equal opportunities, can attain sustained development.