The People’s Bank of China (PBOC) is boosting supervision of its credit rating agencies. Photo: Bloomberg
China debt defaults prompt authorities to tighten oversight of credit rating agencies
- The People’s Bank of China (PBOC) is increasing supervision of its credit rating agencies in bid to restore faith in its giant onshore debt market
- A series of defaults on bonds issued by top-rated Chinese companies late last year undermined the credibility of the domestic rating industry
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The People’s Bank of China (PBOC) is boosting supervision of its credit rating agencies. Photo: Bloomberg