More rating agencies to break monopoly  

首家中資信貸評級機構宣布在香港成立

首家中資評級機構---中國誠信(亞太)31日在香港舉行揭牌儀式，成為第一家在香港獲得金融職業牌照的中國內地本土信用評級機構。新機構將主要為在香港發行人民幣債券的中外企業提供財務評級，彌補相關市場的空缺。

Hong Kong (CNS) -- The mainland credit rating agency China Chengxin Credit Ratings announced Tuesday its Hong Kong Asia Pacific subsidiary. The subsidiary will provide financial services for companies that issue RMB bonds in Hong Kong.

China Chengxin obtained the license from the Hong Kong Securities and Futures Commission on June 28. According to the cooperation terms of the Hong Kong SFC and Europe Market and Regulation Committee, ratings released by China Chengxin can also apply in the EU.

Mao Zhenhua, founder of China Chengxin Group and director of the Economy Research Center of Renming University, said that the company will develop in tandem with the Hong Kong RMB offshore center. According to the Hong Kong investment fund association, 40 percent of the dim sum bonds issued in Hong Kong sport no credit rating, which poses opportunity for rating agencies.

General manager Li Yongquan added that China Chengxin Credit Ratings Asia Pacific can also challenge the domination of Fitch Ratings, Moody's, and Standard & Poor's.