Golden Credit Rating International Co., Ltd, a credit rating agency from China, and Analytical Credit Rating Agency (ACRA), a credit rating agency from Russia, jointly announced the official signing of a Memorandum of Understanding in credit rating.

ACRA is a Russian credit rating agency licensed by the Central Bank of Russia, and qualified to process entire rating business in Russia. The 27 shareholders of ACRA are Russia's largest companies and financial institutions, each holding a 3.7% stake.

According to the memorandum, the agencies will conduct joint analytical work, develop technological and informational cooperation, and pursue mutual acknowledgement by Chinese and Russian investors and regulators.

“Economic and financial globalization is an irreversible megatrend. Economies of China and Russia are highly complementary with broad prospects for cooperation. ACRA is the most important credit rating agency in Russia. Our comprehensive strategic cooperation with ACRA will promote and strengthen the economic and financial exchanges of both countries and achieve win-win.” notes Mr.Luoguang, Golden credit Chairman.

“We see a great potential of our cooperation with the Chinese rating agency Golden Credit. China is of a high interest for Russian and international investors, and Golden Credit is a reliable source of information about the economy and financial sector of the PRC. We also expect that both parties will benefit from sharing practices and knowledge in methodologies and analytics,” notes Ekaterina Trofimova, ACRA CEO.

According to the managing partner of "Kaderus Capital" Andrey Akopyan, to win the trust in the partner markets, agencies will need several years of excellent work. "Chinese investors are still not at the stage when ratings become relevant. But when they see real support to investment direction "China—Russia" from government agencies, financial flows will increase significantly", — he said.