The people’s bank of China (pboc) and the China securities regulatory commission (CSRC) jointly issued notice no. 14 of 2018 to strengthen unified supervision industry and promote bond connectivity. Industry experts said that the announcement jointly constructed a unified regulatory framework for the interbank bond market and the exchange bond market rating agencies to implement “unified access, unified standards, and unified law enforcement inspection”, and the rating agencies will officially enter the era of unified supervision.
Uniform ratings are increasingly important
The central bank said the announcement focused on gradually unifying the rating business qualification of the inter-bank bond market and the exchange bond market, strengthening the supervision and information sharing of credit rating agencies, promoting the improvement of the internal system of credit rating agencies, unifying the rating standards and improving the rating quality.