[4] The share-holder structure of the joint venture company was changed in 2006 when Moody's came in to take over the equity positions of Fitch and the supranational institution.
[7] China Chengxin Credit Management Co. Ltd. went to Hong Kong to set up its subsidiary, China Chengxin (Asia Pacific) Credit Ratings Company Limited, which received the Type Ten License from Hong Kong Securities and Futures Commission on 28 June 2012 and was an internationalization attempt after Dagong Global's expansion into the United States in 2010, which was considered eventually failed partially for political causes.
[8][9] China Chengxin Credit Rating Group has branches and subsidiaries operating in Beijing, Shanghai, Hong Kong, Shenzhen, Fujian, Wuhan, Shandong, Liaoning, Tianjin, Jiangsu, Zhejiang, Shanxi and Shaanxi.
[1] The company worked out the first set of credit rating system and methodology in China, which was assessed and accredited by the group of experts from the Finance and Economic Committee and Law Committee under the People's Congress, People's Bank of China, National Planning Commission, banks and securities house.
Moody's moved in to buy up to the regulatory cap of 49% share of China Chengxin International Credit Rating Company Limited from the local share-holders in September 2006.
Moody's added additional management and technical support on rating methodologies and training of analysts to the joint venture company.
On 29 December 2020, CCXI was suspended by NAFMII,[16] a Chinese interbank market regulator, for three months out of a high-profile bond default case of Yongcheng Coal & Electricity Holding Group.
The Chinese regulator discovered that China Chengxin had failed to properly conduct on-site due diligence on Yongcheng or adequately disclose risks, and urged the rating agency to take corrective steps.
"[21] While the Evergrande-related investigation to CCXI is on-going and not yet concluded, the Chinese public is expecting the intermediary responsibility to enforced in a strong hand manner after the announcement.