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Joseph Hu, president of Standard & Poor's China Region
Updated: 2007-01-08 07:59  Nobody in China is more familiar with the exciting worlds of asset
securitization, or structured finance, than Joseph Hu. After all, he studied it
in the United States for thirty years.
Now, Hu is trying to introduce the
field in China, and hopes to secure a favourable position for S&P in this
huge potential market.
China's credit rating market has flourished since
2005, due to the government's introduction of more financial products, such as
short-term financing bills, corporate bonds and asset-backed securities.
But
foreign rating companies are currently not allowed to independently conduct
business on the mainland, so a joint venture might be the wisest choice for an
international rating firms, Hu says.
Hu has visited dozens of Chinese
officials and bankers to maintain good relationships and identify a suitable
local partner.
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