SP Global has gained permission to set up a wholly-owned subsidiary based in Beijing to conduct credit-rating services for debt offerings in the nation's $11 trillion interbank market, according to a press release on Monday.
The People’s Bank of China PBoC said that approval for SP meets demand from global investors who had increased their holdings of yuan-denominated assets.
“We believe that we are best equipped to provide an independent opinion on China’s debt markets as they develop, and we are ready to play our part,” John Berisford, president of SP Global Ratings said in the press release.
And the introduction...
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