More rating agencies to break monopoly  

首家中资信贷评级机构宣布在香港成立

首家中资评级机构---中国诚信(亚太)31日在香港举行揭牌仪式，成为第一家在香港获得金融职业牌照的中国内地本土信用评级机构。新机构将主要为在香港发行人民币债券的中外企业提供财务评级，弥补相关市场的空缺。

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.