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S&P Global secures regulatory approval to set up China ratings business

Jan 29, 2019 - SNL Financial
Partnership Announcement

The People's Bank of China has granted approval for S&P Global Inc. to set up a wholly owned subsidiary in Beijing to conduct credit rating business in China, as the country moves to ease foreign access to its financial markets.

S&P Global is the first foreign company to establish its own presence in China's US$10 trillion bond market after Beijing promised to open up the credit rating industry to foreign ownership in March 2018. Prior to that regulatory update, foreign rating agencies wer...