Guan Jianzhong, Chairman of Universal Credit Rating Group
Mr. Guan Jianzhong, as an initiator and promoter of the international rating system reform, has long been committed to exploring and conducting research on the rules governing the development of credit-based economies and formulated systems of theories on credit-based economies and credit rating.
The global credit crisis in 2008 has revealed that the existing western-dominated international credit rating system is no longer able to shoulder the responsibility of assigning credit ratings to entities across the globe. Mr. Guan found the necessity of “establishing a new international credit information service system” and first put forward the idea at the “Second China-Japan-South Korea Credit Rating Forum” hosted in Tokyo in October, 2008. Since then, he has had articles of over 600,000 words on credit theories published and formed a theory on reforming the incumbent international credit rating system. Based on this theory, Mr. Guan proposed a concept of shaping a new international credit rating system and designed a “Dual Rating” system mode. To promote the materialization of this strategic vision, he has had extensive exchanges of ideas and discussions with world-renowned political and economic figures and ambassadors to China from over 30 countries. They all spoke highly of this innovative mode and its implementation roadmap, which conforms to the historical trend and contributes to tackling problems in the existing international credit rating system. In June, 2013, the Universal Credit Rating Group (UCRG) was formally founded in Hong Kong by three credit rating agencies from China, the U.S. and Russia, which initiated a great commitment to establishing a new international credit rating system.