China removes credit rating requirements for debt financing tool issue by non-financial firms
FILE PHOTO: A woman wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee
BEIJING : China will remove credit rating requirements for issuance of debt financing tools by non-financial firms in a pilot scheme, the central bank said on Wednesday.
The move aims to further enhance the autonomy of market entities in using external ratings and promote the market-oriented reform of the credit rating industry, the People's Bank of China said in a statement.
(Reporting by Beijing newsroom, editing by Louise Heavens)
Source: Reuters
