Defaulting state entities spurs China to improve supervision of bond credit rating
13 December 2020 - 16:56
China’s central bank vowed to improve its oversight of the nation’s bond credit rating industry after a series of defaults by state-backed firms.
People’s Bank of China deputy governor Pan Gongsheng said problems in the industry included inflated credit ratings, according to a statement on the bank’s website dated Sunday. Ratings companies should work hard to improve their capabilities and quality of work, he said...
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