For­eign agen­cies may rate bonds

China Daily (Hong Kong) - - BUSINESS -

China has al­lowed in­ter­na­tional rating agen­cies to rate on­shore bonds, pro­vided they have an on­shore branch reg­is­tered with the Peo­ple’s Bank of China. The rul­ing was re­leased on Mon­day, the first day of op­er­a­tion of the new Bond Con­nect scheme, which gives off­shore in­vestors di­rect ac­cess to the Chi­nese main­land’s on­shore bond mar­ket from Hong Kong. The PBOC, the reg­u­la­tor for rating agen­cies, out­lined in a no­tice the re­quire­ments for as­sign­ing rat­ings to on­shore is­suers and notes listed in the in­ter­bank bond mar­ket. Do­mes­tic and for­eign agen­cies should have sound cor­po­rate gov­er­nance and must not have been in­volved in any ma­jor il­le­gal acts in the past three years. bil­lion yuan ($72.23 bil­lion) from in­vestors at home and abroad, ac­cord­ing to lat­est statis­tics from the Hainan pro­vin­cial govern­ment on Tues­day. Thirty lead­ing Sta­te­owned en­ter­prises signed agree­ments worth 125.9 bil­lion yuan with Hainan pro­vin­cial de­part­ments, with the projects to fo­cus on tourism, new en­ergy and in­ter­net­based in­tel­li­gent ocean busi­nesses. re­tail sec­tor re­port made public by the Min­istry of Com­merce. Clear im­prove­ment in the coun­try’s eco­nomic per­for­mance was one of the ma­jor rea­sons be­hind the pos­i­tive fore­casts, the re­port said. China’s econ­omy grew 6.9 per­cent year-on -year in the first quar­ter, the fastest pace in six quar­ters. Re­tail sales of con­sumer goods in the first five months of the year rose 10.3 per­cent. smart in­dus­trial zone at the first World In­tel­li­gence Congress held in Tian­jin. The in­dus­trial zone, which cov­ers an area of 20.17 square kilo­me­ters, will rely heav­ily on ad­vanced man­u­fac­tur­ing in­dus­tries such as au­to­mo­biles, elec­tronic de­vices, and smart equip­ment, with a spe­cial fo­cus on high-end smart in­dus­trial clus­ters like ar­ti­fi­cial in­tel­li­gence, smart man­u­fac­tur­ing, and smart health­care. Al­though the need for in­dus­trial ro­bots is in­creas­ing, China still lags be­hind for­eign coun­tries in in­dus­trial robotics man­u­fac­tur­ing and re­lies mainly on im­port for mid and high-end in­dus­trial ro­bots. With the build­ing of the smart in­dus­trial zone, TEDA hopes to make the robotics in­dus­try an ex­am­ple of the over­all up­grad­ing of the man­u­fac­tur­ing in­dus­try. de­vel­oper Autren Hold­ing Group has signed an agree­ment with the Stras­bourg, France­based health­care and sur­gi­cal op­er­a­tion ser­vice provider IRCAD to open to five in­ter­na­tional health­care cen­ters over the next three years in first and sec­ond-tier Chi­nese cities in­clud­ing Bei­jing, Shang­hai and Ji­nan, to fur­ther in­te­grate health­care into its prop­erty de­vel­op­ment busi­ness. Backed by IRCAD, these new cen­ters will be sup­ported by tech­nolo­gies in­clud­ing ar­ti­fi­cial in­tel­li­gence and big data.

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