Bangkok--16 Oct--Standard & Poor's
Standard & Poor's Ratings Services today published an article recapping its comments at a conference on domestic capital markets in the People's Republic of China hosted by Asia Society on Oct. 12, 2006 at the Pierre Hotel in New York City. The report, entitled, "Credit FAQ: Prospects For Capital Reform In China," is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com .
According to John Chambers, chairman of Standard & Poor's sovereign rating committee, relaxing the quota system for issuers and dropping the requirement for bank guarantees for bond tenors over one years would accelerate the rate of growth in the Chinese corporate bond market.
"Other reform such as the further liberalization of interest rates, improvements to corporate governance, and greater availability of reliable credit information would also deepen the Chinese corporate bond market," noted Mr. Chambers. "Regarding making nontradable equity shares tradable, we expect G-share reform both to ease raising equity capital for Chinese firms and to facilitate mergers through share swaps," he concluded.
The report is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com . If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-9823 or sending an e-mail to [email protected] . Ratings information can also be found on Standard & Poor's public Web site at www.standardandpoors.com ; under Credit Ratings in the left navigation bar, select Find a Rating, then Credit Ratings Search. Alternatively, call one of the following Standard & Poor's numbers: Client Support Europe (44) 20-7176-7176; London Press Office Hotline (44) 20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5914; or Moscow (7) 495-783-4017. Members of the media may also contact the European Press Office by sending an e-mail to [email protected] .
Media Contact:
David Wargin, New York (1) 212-438-1579
[email protected]
Analyst Contacts:
John Chambers, CFA, New York (1) 212-438-7344