Foreign agencies may rate bonds
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.