January 28, 2019 / 9:14 AM / 20 days ago

RPT-China c.bank approves S&P Global's entry into China's credit rating market

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SHANGHAI, Jan 28 (Reuters) - China’s central bank said on Monday it had approved the entry of S&P Global Inc into the country’s credit rating market, as part of a wider drive to encourage foreign investors to diversify into yuan-denominated assets.

The People’s Bank of China (PBOC) said in a statement that it would continue to push the opening up of its credit rating industry for additional qualified foreign ratings agencies.

Reporting by Winni Zhou, John Ruwitch and Andrew Galbraith; Editing by Simon Cameron-Moore

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