CCIEE Permanent Vice Chairman Meets with the President of McGraw-Hill

On the morning of July 30, 2010, Mr. Zheng Xinli, Permanent Vice Chairman of CCIEE, met with Mr. Harold McGraw III, President of the McGraw-Hill Companies, and Mr. Deven Sharma, President of Standard & Poor’s. Other attendees included Mr. Edward Ted Smyth, Executive Vice President (Corporate Affairs), Mr. Zhang Yan, General Manager of the McGraw-Hill Companies (China), Mr. Chew Ping, President of Standard & Poor’s (China), Mr. Han Yihu, Deputy Director General of the Consulting Department, Mr. Xu Hongcai, Deputy Director General of the Information Department and Mr. Zhang Yongjun, Researcher of CCIEE.

Mr. Zheng gave a brief introduction of CCIEE, reviewed the works CCIEE has done in the areas of research, exchanges and consultancy. Mr. McGraw spoke highly of CCIEE’s achievement in building the best think tank. Also, he introduced McGraw-Hill Companies’ main businesses such as rating service, education, energy, commodities, market research and their development. Mr. McGraw said that Chinese market is vital for the development of MdGraw-Hill Companies and would like to know CCIEE’s opinion and advice in this regard.

Mr. Zheng pointed out that credit rating is featured with international monopoly and distorted standard, which is not good for providing appropriate guidance to capital flow and is likely to bring financial risks along. Therefore, we should learn our lesson from the financial crisis and establish a new international credit rating system. He suggested McGraw-Hill Companies to cooperate with private Chinese universities as their flexibility will enable them to better adopt advanced educational concept from the west. 

Mr. McGraw agreed with Mr. Zheng and would like to conduct further communication and exchanges with CCIEE. He hoped the two organizations could cooperate in wider areas and achieve more progress together.