China moves to tighten scrutiny over credit rating industry

Topics Markets

BEIJING (Reuters) - China moved to tighten scrutiny over its credit rating business on Sunday, issuing draft rules aimed at bolstering an industry long blamed for inflating ratings in the country's $4.4 trillion corporate bond market.

China's credit rating agencies are urged to improve their credit rating models, strengthen corporate governance and bolster information disclosure, according to rules jointly published by five government agencies including the central bank and the finance ministry. The rules are also designed.

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