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日前，国内7家主流评级机构对中证信用进行了跟踪评级实地调研及访谈工作。截至目前，公司已收到中诚信国际信用评级有限责任公司、中诚信证券评估有限公司、上海新世纪资信评估投资服务有限公司、联合资信评估有限公司、联合信用评级有限公司、东方金诚国际信用评估有限公司、大公国际资信评估有限公司7家评级机构一致给予的“主体信用AAA”评级，评级展望稳定。这是中证信用连续第五年获此评级。
“AAA”是目前国内主体信用的最高评级，该评级意味着各评级机构对中证信用的商业模式、资本实力、管理团队、风控能力、行业地位及发展前景等方面均给予高度认可和评价。
作为中国领先的信用科技综合服务商，中证信用将继续致力于通过科技驱动打造服务于信用资产全生命周期（资产生成-资产交易-资产管理）的基础设施，为客户提供信用风险管理、信用增进、信用资产交易管理服务等全信用价值链服务，降低信用风险管理的成本，提升信用资产流转的效率，化解信用资产投资的风险。
2019年7月8日，中国银行间市场交易商协会发布《关于公布银行间债券市场内资信用评级机构注册评价结果的公告》（[2019]15号）称：经协会第五届常务理事会第十一次会议审议通过，并报中国人民银行备案同意，现接受中证鹏元资信评估股份有限公司（简称“中证鹏元”）开展银行间债券市场A类信用评级业务的注册，业务范围为银行间债券市场金融机构债券、非金融企业债务融资工具、结构化产品以及境外主体债券等全部类别的信用评级业务。这标志着中证鹏元正式获得在银行间债市开展全部类别信用评级业务的资质，成功实现境内市场全牌照经营。
中证鹏元自启动银行间债券市场信用评级业务注册评价工作以来，得到了广大客户、合作伙伴及投资者等不同层面的大力支持。此次注册评价工作主要围绕公司基本素质、业务水平、评级质量及市场公信力等方面开展，是对中证鹏元综合能力的充分肯定。下一步，中证鹏元仍将不忘初心，持续完善评级体系、内控体系和投资者服务体系，进一步为市场提供更专业、全面、客观的评级服务。
为更好地向行业输出公司的信用风险管理的经验和能力,推动行业债券违约风险监测、分析与处置水平的提升，中证信用增进股份有限公司（以下简称“中证信用”）联合中国证券业协会于2019年6月26-27日在深圳举办了关于违约风险监测与分析专题的债券市场信用风险管理培训班。中证信用集合集团旗下中证征信、中证鹏元、瑞霆狗信息技术等相关公司的信用风险专家参与授课。
金融的核心是风险管控。中证信用立足于服务信用风险管理，让信用创造价值。基于对债券市场信用风险管理需求的长期跟踪，中证信用通过业务布局，为客户搭建了涵盖债券全生命周期的信用价值链服务，包括针对发债主体的风险实时监测服务，通过舆情预警、关系图谱等功能，快速洞察企业风险；面向发债主体和信用债券的外部评级服务，通过专业的信用评价，客观真实地反映其内在价值，为投资人提供投资决策依据；面向投资人的信用债内部评级、定价、估值服务，通过发债主体的信评分档、公募债定价分析、存量债的估值分析等工具，实现对发债主体和交易对手信用风险的及时评估，辅助投资人更高效地完成投资决策；信用增进服务，通过提高债券发行的信用等级，帮助发债主体提升融资效率、降低融资成本。
作为中国领先的信用科技综合服务商，中证信用致力于通过科技驱动打造服务于信用资产全生命周期基础设施，为企业及行业提供信用风险管理、信用增进、信用资产交易管理服务等全信用价值链服务，助力降低信用风险管理的成本，提升信用资产流转的效率，化解信用资产投资的风险。后续中证信用将继续探索如何运用信用科技为行业赋能，积极为行业创造价值，并践行社会责任。
On June 12th of 2019, the 6th Global Public Investor Launch and Seminar of the Official Monetary and Financial Institutions Forum (OMFIF) was held in Singapore. Practitioners across central banks, sovereign funds and public pension funds attended the summit to discuss the topics around the development trend of global public investors and a sustainable world economy. Some representatives included experts from the World Bank Group, the Federal Reserve of United States, Japan’s Financial Services Agency, the Bank of England, the Ontario Municipal Employees Retirement system, Fitch Ratings, etc. Jianwen Zhang, the Chief Strategy Officer of CSCI（China Securities Credit Investment Co., Ltd.）and the team were invited to attend the summit to give a speech on harnessing financial technology, and share the business innovation and practice of CSCI in the area of credit technology.
As the representative from CSCI pointed out during the summit, as a leading credit-tech provider in China, CSCI endeavors to use technology to build an infrastructure that serves the entire lifecycle of the credit assets (asset generation – asset trading and exchange – asset management). CSCI provides integrated services that cover the entire credit value chain, from credit risk management, credit enhancement, to credit asset trading services and management，which help to reduce the cost of credit risk management, accelerate credit asset circulation, and mitigate the risk of credit asset investments. At present, CSCI has provided professional credit ratings, customized credit risk solutions, and credit technology-driven asset management services for more than 4,000 institutional clients such as industrial and commercial enterprises, new economies, financial institutions, government departments, and internet platforms.
Especially in the aspect of supply chain finance, CSCI has effectively built a multi-party trust system through blockchain technology and big data risk control technology, serving the small and micro enterprises as an independent service provider. In the case of supply chain financing, CSCI completes the loop of goods flow, information flow as well as the capital flow. As a result, the core anchor enterprise’s payment creditability is passed through to the second, third and fourth-level suppliers, so that the small and medium-sized suppliers can easily obtain financing from banks. To some extent, this mechanism has effectively solved the financing problems of the small and micro enterprises.
In addition, CSCI will also publish an article on the Bulletin magazine of OMFIF, titled “China’s bond market is too big to miss”. Valued at $13tn, China’s onshore bond market is the third largest in the world, making up 11% of the bonds market globally. Despite its massive size and potential, China still remains one of the least penetrated bond markets by global investors. According to the People’s Bank of China, at the end of 2018, foreign investors accounted for 2.3% of the market in terms of value. However, this has started to change. Bloomberg has begun including Chinese government bonds and policy bank securities in its $54trn Bloomberg Barclays Global Aggregate index. The inclusion into major global benchmarks is expected to attract trillions in foreign inflows and reshape global capital markets in the coming years.
Jianwen Zhang argues that CSCI can make an ideal partner for international investors as they increase investment allocation to China. CSCI’s complete and real-time database for China’s capital markets, credible and intelligent credit evaluation model, effective price discovery, and thought leadership from more than 200 credit analysts, make us a one-stop access to China’s credit bonds.
2019年6月12日，国际货币金融机构官方论坛(OMFIF) 第六届全球峰会在新加坡举行，包括来自世界银行、美联储、日本金融厅、英格兰银行、新西兰养老基金、惠誉评级等30多个国家和地区的央行代表、主权基金和公共养老基金代表等出席了会议，并就全球公共投资者和世界经济的可持续发展话题展开讨论。中证信用首席战略官张剑文一行应邀出席会议，就金融科技驱动经济发展的话题进行了主题发言，并分享了中证信用在信用科技领域的业务创新与实践。
中证信用代表在发言中指出：作为中国领先的信用科技综合服务商，中证信用致力于通过科技驱动打造服务于信用资产全生命周期（资产生成、资产交易、资产管理）的基础设施，为客户提供信用风险管理、信用增进、信用资产交易管理服务的全信用价值链服务，降低信用风险管理的成本，提升信用资产流转的效率，化解信用资产投资的风险。目前已为工商企业、新经济体、金融机构、政府部门、互联网平台等4000多家机构客户分别提供专业化信用评级、定制化信用风险解决方案，以及信用科技驱动的资产服务。
尤其在供应链金融方面，中证信用进行了积极有效的探索，通过区块链技术、大数据风控技术，构建多方信任体系，并以第三方服务商的角度服务小微企业，在确保数据流和资金流完整匹配的情况下，将核心企业的信用传递给了第二、三、四级供应商，让中小供应商可以便捷地获得金融服务，在一定程度上有效地解决了小微企业因自身信用基础薄弱而导致的融资难、融资贵问题。
此外，中证信用还应邀为OMFIF专业杂志《The Bulletin》撰写题为《中国债券市场大到不可忽视》的署名文章，指出：中国境内债券市场规模已达到13万亿美元，是全球第三大债券市场，占全球债券市场的11％。尽管中国债券市场规模巨大且潜力惊人，但中国仍然是全球投资者渗透率最低的债券市场之一。根据中国人民银行的数据，截至2018年底，外国投资者持有中国债券占市场总量的2.3％。然而这个局面正开始变化。彭博已开始将中国政府债券和政策性银行债券纳入其54万亿美元的彭博全球综合指数中。预计未来几年，中国债券纳入主要全球指数的过程将吸引数万亿外国资本流入中国。
张剑文表示：“中证信用具有完整的中国资本市场核心信用数据库、可信的智能化信用评估模型、有效的价格发现机制，以及来自200多名信用分析师的实战经验，可以成为国际投资者进入中国债券市场最理想的合作伙伴。”
APRIL 17 2019 – Credit-tech, a highly specialized area of fintech, has significant potential to disrupt the financial industry and will have profound impacts on the credit services providers and credit market especially, according to a new report by Oliver Wyman and China Securities Credit Investment (CSCI).
The report, entitled Technology-driven value generation in credit-tech, reveals that the three layers of China’s credit market – credit assets, credit services, and credit IT – will see significant new business opportunities emerge over the next 5 years benefiting from the credit-tech driven innovations.
Layer 1: Credit assets
The report estimates that issuance volume of credit asset in China is expected to grow from 57 trillion yuan in 2018 to 80 trillion yuan in 2022, of which, credit-tech will contribute 54% (43 trillion yuan) in 2022. The strong growth momentum is a result of the gradual expansion of credit services to long-tail customers, including individuals and MSEs that had difficulties in obtaining financing from traditional financial institutions without the solutions provided by credit-tech. As more credit assets are issued, the outstanding balance of credit assets is expected to increase from 144 trillion yuan in 2018 to 195 trillion yuan in 2022, 68 trillion yuan of which will be driven by technology.
The credit trading market is projected to grow from 136 trillion yuan in 2018 to 239 trillion yuan in 2022, 183 trillion yuan of which will be driven by credit-tech. The continuous maturation of both the public and private trading markets will become the major growth driver, and Oliver Wyman expects the contribution of private trading market is more significant. Traditionally, transactions of non-standard assets are difficult to be executed. In the future, however, private trading platforms will be established to increase the transparency of underlying assets, thus boosting the trading volume of non-standard credit assets. The contribution of private market transactions will increase from 16% in 2018 to 24% in 2022.
Layer 2: Credit services
For credit services, the annual revenue will increase from 368 billion yuan in 2018 to 1,034 billion yuan in 2022. Of which, revenue generated by credit-tech will reach 431 billion yuan in 2022, representing 42% of the total amount, indicating a CAGR of 163% from 2018. The credit services market is closely linked to the credit assets market, and most of the service revenue derived from credit-tech services will be related to outstanding balances and new issuances of credit assets.
Layer 3: Credit IT
As the basis and foundation of credit market, credit IT companies help credit-servicing companies improve operational efficiency and service quality by developing credit systems, which is expected to experience an increase in revenue from 9 billion yuan in 2018 to 49 billion yuan in 2022.
“Under the traditional market practices of credit market, companies are required to have solid financial credentials or large scale of assets in order to obtain financing, which has become increasingly inefficient for MSMEs since MSMEs need flexible ways of financing in order to cope with their business needs in China’s changing economic dynamics,” said Cliff Sheng, Oliver Wyman partner and author of the report. “However, startups including CSCI and WeBank are making it easier for companies to obtain financing by leveraging technology to better identify underlying risks, which provides an efficient and scalable solution for MSMEs to thrive.”
The report also identifies the impacts credit-tech has on the three layers of the credit market in three stages: upgrade, innovation, and disruption (Exhibit 2). Technologies such as the internet, mobile communications, artificial intelligence (AI), blockchain, cloud computing, and big data analytics will reshape and disrupt the financial industry, and will have profound impacts on credit service providers and credit market especially.
According to Cliff Sheng, in China, key drivers of the credit-tech market are macro-economic factors including the fast-growing financing volume and structural reform of the macro-economy, improving market maturity and efficiency as a result of regulation, and the development of new technologies such as AI, blockchain, cloud and big data. While the main players in the market are traditional financial institutions, fintech players, and technology companies, the report also underlines that only those companies with the following characteristics can be successful:
• Strong integration across technology, business know-how, branding, and resources
• A market-oriented operating model
• An internet start-up culture
• Competitive talent propositions and incentive schemes.
Together these will set apart the eventual winners excel its peers and capitalise on the opportunities arising from the new technologies and become pioneers of sector over the next 5 years.
About the report
The report titled Technology-driven value generation in credit-tech provides an overview of the credit-tech market in China and discusses how credit-tech will reshape and disrupt the financial industry, especially for the credit services providers and credit market. The first section defines credit-tech and shows its main impacts on the three layers of the credit market: credit assets, credit services, and credit IT. The second section provides an in-depth analysis of the credit-tech market in China and quantifies the potential impact of credit-tech. Firstly, the addressable market size of the three layers of credit market were identified. Then, the respective market size driven by credit-tech was calculated. The report also highlights the key success factors for leading credit-tech players.
Link to download the full report:
https://www.oliverwyman.com/our-expertise/insights/2019/apr/china-credit-tech-market-report.html
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices in 60 cities across 29 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 5,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a wholly owned subsidiary of Marsh & McLennan Companies [NYSE: MMC]. For more information, visit http://www.oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman.
About CSCI
CSCI is a leading integrated credit-tech services provider. Empowered by its technology, CSCI establishes credit infrastructure services throughout the credit asset life cycle. CSCI offers tailored solutions for its clients, which helps reduce the cost of credit risk management, lower credit asset investment risk and increase credit asset turnover rate. For more information, visit https://www.chinacsci.com/en/
全球领先的管理咨询公司奥纬咨询联合中证信用增进股份有限公司（“中证信用”）于 2019年4月17日发布《中国信用科技市场报告》。报告指出，“信用科技”作为金融科技范畴下一个高度专精的领域，极具颠覆传统金融业的潜力，尤其将对信用服务商和信用市场产生深远影响。
此报告以“科技赋能信用，信用产生价值”为主题并指出，受益于信用科技的持续创新，信用市场下的三层细分市场（信用资产、信用服务以及信用IT）将在未来五年迎来重大发展机遇。
第一层面：信用资产市场
报告预计，中国信用资产发行量预计将从2018年的57万亿元人民币增长到2022年的80万亿元人民币，其中，信用科技的占比将达到54%（约43万亿元人民币）。如此强劲的增长在很大程度上得益于信用逐步向长尾客户的扩张，包括个人客户和小微企业。这部分客户群体很难从传统金融机构获得融资，而信用科技为它们提供了出路。随着信用资产发行量的增长，信用资产余额也将从2018年的144万亿元人民币提高到2022年的195万亿元人民币，其中受信用科技驱动的部分将达到68万亿元人民币。
信用资产交易市场预计将从2018年的136万亿元人民币增加到2022年的239万亿元人民币，其中高达183万亿元人民币的交易量将由信用科技驱动。信用资产交易市场的增长动力主要来自于场内和场外交易市场的不断完善，奥纬预计场外市场的作用尤甚。传统上，非标准化资产的交易较为困难。随着信用科技的介入，二级市场的交易平台将在很大程度上增加非标准化资产的透明度，从而拉动非标准化信用资产的交易量。场外交易的占比规模将由2018年的16%提升至2022年的24%。
第二层面：信用服务市场
信用服务总收入将从2018年的3,677亿元人民币增加到2022年的10,340亿元人民币，其中信用科技的创收预计在2022年可达4,310亿元人民币，占总收入的42%，2018年起预期年均增长率达到163%。信用服务市场与信用资产市场密切相关，大部分由信用科技带来的服务收入将受到信用资产余额及信用资产发行量的影响。
第三层面：信用IT市场
作为信用市场结构中的基石，信用IT企业开发的信用系统助力信用服务商提高经营效率及服务质量，信用系统相关收入有望从2018年的93亿元人民币飙升至2022年的490亿元人民币。
“传统的信贷市场结构要求借贷企业拥有可靠的财务资质或庞大的资产规模以通过贷款审批。如今，面对中国快速发展的经济环境，传统的做法越来越不利于中小微企业灵活应对变化的业务需求。” 奥纬咨询董事合伙人及报告作者盛海诺表示，“然而，中证信用和微众银行等初创企业正以创新技术帮助企业更便利地融资。这些公司通过使用信用科技更好地识别潜在风险，从而为中小微企业提供了一个高效和规模化的解决方案。”
报告同时总结出信用科技如何分三个阶段——升级、创新及颠覆——对信用市场的三个层面产生影响（详见图表2）。互联网、移动通信、人工智能、区块链、云计算和大数据等技术的快速发展将会引领传统金融业的变革，尤其对信用服务商和信用市场产生深远影响。
盛海诺表示，在中国，信用科技市场主要受经济环境（融资规模增加、经济改革）、市场监管（市场成熟度及效率提升）和技术变革（人工智能、区块链、云计算及大数据）等宏观因素驱动。信用科技市场的主要参与者众多，包括传统金融机构、金融科技企业和科技企业，而唯有具备以下特质的企业方能在信用科技领域取得成功：
• 科技实力、商业场景应用、品牌及资源的结合
• 以市场为导向的运营模式
• 互联网创业公司文化
• 优秀人才及人才激励机制
满足这些特质的企业终将脱颖而出，利用信用科技带来的发展机遇，在未来五年内成为行业发展的领军者。
关于报告
《中国信用科技市场报告——科技赋能信用，信用产生价值》提供了中国信用科技市场概览，并探讨信用科技如何重塑和颠覆以信用为核心的金融业，尤其是信贷及信用交易市场。报告的第一部分首先定义信用科技，并分析其对信用市场下三层细分市场（信用资产、信用服务以及信用IT）的影响。报告的第二部分对中国的信用科技市场进行深入分析并量化信用科技可能造成的影响：首先对上述三层信用细分市场容量进行匡算；然后对其中由科技信用推动的部分进行估算。报告还总结了能够在信用科技领域脱颖而出、成为领军企业的几大成功要诀。
报告全文下载链接：
https://www.oliverwyman.com/our-expertise/insights/2019/apr/china-credit-tech-market-report.html
关于奥纬咨询
奥纬咨询（Oliver Wyman）是一家全球领先的国际性管理咨询公司，在全球29个国家的60个城市设有分支机构，拥有深厚的行业经验和在战略、运营、风险管理、组织转型等领域的精深专业能力。奥纬咨询在全球范围内有5000多名专业人士，帮助客户优化业务、改善运营、改进风险管理、提升组织绩效，从而抓住最具吸引力的机遇。奥纬咨询是Marsh & McLennan Companies（纽交所代码：MMC）全资拥有的子公司。如需了解更多信息，请访问公司网站http://www.oliverwyman.com
关于中证信用
中证信用是一家领先的信用科技综合服务商，通过科技驱动业务发展，致力于建立起支撑信用资产全生命周期的技术与服务基础设施，为客户提供覆盖全信用价值链的定制化信用科技综合服务，帮助客户降低信用风险管理成本，缓释信用资产投资风险，并提高信用资产流转率。如需了解更多信息，请访问公司网站https://www.chinacsci.com/
2019年1月23日，由福田区政府组织和指导，福田区投融署主办，福田区科技创新局、福田区企业发展服务中心协办的“2018年度香蜜湖金融科技创新奖颁奖典礼”在深圳举行，中证信用旗下子公司中证信用云科技（深圳）股份有限公司（以下简称“中证信用云科技”）凭借消费金融场景下创新的商业模式、专业高效的金融科技能力以及强劲的发展潜力荣获“2018年度香蜜湖金融科技创新奖新锐企业奖”，中证信用云科技总裁潘琳女士受邀出席了颁奖典礼。
香蜜湖金融科技创新奖是福田区政府基于十三五规划，提出构建深圳中部金融街，并将现有金融中心规划西延至香蜜湖，旨在打破区域界限，实现“上海有陆家嘴，深圳有香蜜湖”的金融街构建规划。本次福田区政府主导的金融科技创新奖以“香蜜湖”冠名，通过对企业或项目的技术能力、商业模式、产品及服务价值、行业标杆等维度进行综合考量和评估，采用资格审查、线上投票、复审答辩、现场考察等多轮遴选机制，评选由深圳市金融科技协会与福田区金融科技专家咨询委员会提供专业支持，并增加非现场专业人士投票环节，评选结果具备很强的专业性和公信力。
中证信用云科技定位于消费金融资产严选，运用大数据、云计算、人工智能等新技术，构建数据风控、运营监控等全面实时多维的风控体系，为消费金融场景中的资产方、资金方、增信担保等参与机构提供动态穿透式的全流程数据风控服务。此次荣获新锐企业奖，是主办方对中证信用云科技自主技术创新能力以及消费金融细分领域生态构建的创新型商业模式的高度肯定，将进一步提升公司的品牌影响力和市场公信力，有助于公司进一步深耕消费金融领域、形成自身独特优势。中证信用云科技也将继续锤炼自身的金融科技能力与技术优势，加快创新步伐，为福田区打造金融科技创新高地，推动福田成为具有国际影响力的金融科技中心贡献自己的一份力量。