December 25, 2011 / 2:17 AM / in 6 years

China central bank chief: cut reliance on rating agencies

BEIJING (Reuters) - China’s Central Bank Governor Zhou Xiaochuan said financial companies must cut their reliance on ratings agencies, and that China is considering setting up a system where investors pay for ratings, rather than bond issuers.

Zhou was speaking at a forum in Beijing.

Reporting by Aileen Wang and Koh Gui Qing

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