China central bank approves S&P Global’s entry into China’s credit rating market

The S&P Global logo is displayed on its offices in the financial district in New York
FILE PHOTO: The S&P Global logo is displayed on its offices in the financial district in New York City, U.S., December 13, 2018. REUTERS/Brendan McDermid

January 28, 2019

SHANGHAI (Reuters) – China’s central bank said on Monday it had approved the entry of S&P Global Inc into the country’s credit rating market, as part of a wider drive to encourage foreign investors to diversify into yuan-denominated assets.

The People’s Bank of China (PBOC) said in a statement that it would continue to push the opening up of its credit rating industry for additional qualified foreign ratings agencies.

(Reporting by Winni Zhou, John Ruwitch and Andrew Galbraith; Editing by Simon Cameron-Moore)

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