Caixin
Jan 29, 2019 05:43 AM
FINANCE

S&P Global Gets Green Light to Rate Bonds in China

China allowed S&P Global Ratings’ Beijing-based wholly owned unit to conduct credit rating business. Photo: VCG
China allowed S&P Global Ratings’ Beijing-based wholly owned unit to conduct credit rating business. Photo: VCG

China’s regulators approved the entry of S&P Global Inc. into the country’s credit rating market as part of China’s national push to open its financial sector.

China’s central bank approved the registration of S&P Global’s Beijing-based wholly owned unit, the People’s Bank of China (PBOC) said Monday in a statement. The clearance makes S&P the first foreign-owned company allowed to conduct credit rating business on the mainland. Moody’s Investor Service and Fitch Ratings have also applied.

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