[China’s securities industry is ushering in a “re-rating wave” of international credit, with many leading securities firms “promoting A” simultaneously during the year] October 9th, China’s securities industry is ushering in a “re-rating wave” of international credit. Since the beginning of this year, the three major international rating agencies, Moody's, S&P, and Fitch, have intensively raised the credit ratings of Chinese securities firms or industry rating benchmarks at a synchronized pace rarely seen in recent years. Leading securities firms such as CITIC Securities, Cathay Haitong, and CICC have entered the "Class A" rating range, releasing a positive signal for the steady development of China's securities industry and the continued improvement of the comprehensive competitiveness of leading institutions.