Chinese fintech giant Ant Financial has launched its own corporate credit rating company.
Ant Financial founded the Ant Financial Credit Rating Co., Ltd. (蚂蚁信用评估有限公司) on 24 March, according to information from the National Corporate Credit Information Display System (国家企业信用信息公示系统).
Ant Financial Credit Rating is a wholly owned subsidiary of Ant Financial with registered capital of 500 billion yuan.
Its legal representative and chair is Shao Wenlan (邵文澜), who is also the chair of Zhima Credit, and its business scope encompasses: enterprise credit operations, social economic consulting services, financial consulting, data processing and storage support services, software development, technological development and related consulting services.
According to data from the Chinese central bank as of the end of December 2019 China was host to a total of 128 corporate credit ratings organisations that had completed filing with sub-branches of the central bank in 22 province-level administrative entities.