The Chinese authorities have allowed an international rating agency to access their domestic market. S & P Global Ratings creates a subsidiary of S & P Credit Rating (China) Co. in China, the People’s Bank of China said. The National Association of Financial Market Institutional Investors (NAFMII) will conduct registration in the securities market to cover the domestic bond market in China. The People’s Bank of China believes that access by credit agencies will increase the openness of the Chinese market and attract investment. Chinese authorities mention their readiness to support the activities of other rating agencies in the country. Fitch appeared the first among organizations of this kind in the Chinese market in October 2018. Then Moody’s showed interest in the Chinese market. Companies have requested permission for their activities from the authorities of the country. Fitch and S & P Global Ratings have announced their desire to enter the Chinese market in May 2018. Most of the Chinese companies have ratings from “AA”, which means high reliability for agencies.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...