Vice Premier Huang Ju said in Beijing on Tuesday that China welcomes Moody’s Corporation and other famous international credit agencies to enter the Chinese market.
In a meeting with John Rutherfurd, Jr., chairman of the board and chief executive officer of Moody’s, Huang said that China hopes that agencies such as Moody’s will bring in their experience and advanced skills to help the reform and development of China’s financial sector.
Moody’s has given a positive assessment to China’s economic reform over the years, Huang noted.
The company has provided credit ratings for China and the country’s companies and financial institutions through Moody’s Investors Service (Beijing) Ltd., established in 2003.
“The Chinese government, financial institutions and companies have paid increasing attention to the role of the international credit rating agencies,” Huang said. He pointed out that many Chinese enterprises and institutions are working to improve their creditworthiness and build their global images, providing ample opportunities for companies such as Moody’s to grow in the China market.
(Xinhua News Agency August 24, 2004)
