Chinese ratings agencies gaining global influence

Chinese ratings agencies expanded their global influence amid a booming dollar bond market in 2017.

Bloomberg data show that the number of dollar bonds issued by Chinese companies more than doubled to 2,157 last year, raising the total to $313.9 billion. This was more than six times the financing value in 2016.

"Based on the acceleration of offshore financing by Chinese companies, domestic ratings agencies will speed up the internationalization process and raise their voices in the global market," said Zhang Tingting, deputy head of the overseas business department of China Chengxin International Credit Rating Co.