CX Briefing: First Global Yuan Debt Rating Launched

A rundown of the news making headlines in and around China:

Yuan debt rating: A Chinese credit rating agency has launched a global scale for rating yuan-denominated debt, the first of its kind. International rating agencies primarily look at entities’ ability to repay dollar-denominated debt. The executive director of the sovereign and international rating department at China Chengxin International Credit Rating Co. Ltd. said that several trends mean such a scale is needed now, such as pressure on the dollar-dominated global financial system due to U.S. President Donald Trump’s protectionist policies and the increasing phenomenon of Chinese firms deepening their overseas footprint.