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FILE PHOTO: The S & P Global logo is posted at its offices in the financial district of New York, United States, December 13, 2018. REUTERS / Brendan McDermidReuters
SHANGHAI (Reuters) – China's central bank announced on Monday that it had approved the entry of S & P Global Inc. into the country's credit ratings market, as part of a broader effort to encourage the foreign investors to diversify into badets denominated in yuan.
The People's Bank of China (PBOC) said in a statement that it would continue to promote the opening of its credit ratings sector to new qualified foreign rating agencies.
(Report by Winni Zhou, John Ruwitch and Andrew Galbraith, edited by Simon Cameron-Moore)
Copyright 2019 Thomson Reuters.
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