The HKEX's 5th Annual RMB Fixed Income & Currency Conference 2018 organised by Hong Kong Stock Exchange was successfully held at the grand ballroom of Grand Hyatt Hong Kong on 12 June 2018. The welcoming speech was given by the Mr. Charles Li, the Chief Executive of HKEX. More than 1000 delegates from domestic and international regulators, well-known banks and financial institutions, corporations, investors and media were gathered together in the event. China Chengxin (Asia Pacific) Credit Ratings Company Limited (“CCXAP”) was the only Chinese rating agency to speak in the Conference and organized the workshop “Investments in China from a Credit Rating Perspective” with enthusiastic responses from the participants.
The Executive Director & CEO of CCXAP, Ms. Ariel Yang, represented the company to join the panel discussion of “Globalisation of RMB and recent developments in the CNY/CNH markets” together with Mr. Ken Chiu, Head of RMB Competence Centre of BNP Paribas, Mr. Kelly Mckenney, Director and Head of Distribution Asia (ex-Japan) of Tradeweb, Mr. MK Tang, Managing Director and Senior China Economist of Goldman Sachs, Mr. Tommy Wu, Transaction Sales Manager of North Asia of Thomson Reuters and Mr. Jun YUAN, Co-President of TF International Securities Limited. Ms. Yang reviewed the latest trend of RMB internationalization, opening of onshore bond markets and analyzed the reason of moderate participation of international investors in domestic bond market.
The workshop by CCXAP as especially held to discuss about the differences and trends of domestic and international rating market. Delegates from Securities and Futures Commission (SFC), Hong Kong Monetary Authority (HKMA), The Hong Kong Society of Financial Analysts Limited (HKSFA), banks, assets management firm and securities institutions were joined. Ms. Yang hosted and gave the brief introduction about the composition of China bond market, characteristics and differences with European and American markets.
The Managing Director of CCXAP, Ms. Rong Tian introduced the development of China credit rating market, CCXAP rating system and details about the rating framework of local and global scale. The General Manager of Credit Ratings, Ms. Elle Hu introduced the strengths of Chinese credit rating agencies in terms of better understanding and analysis on the Chinese market over the international rating institutions with concrete examples provided. She also gave introduction of credit status on various industries including the market concerned Local government financing vehicles (LGFVs) and real estate industry.
CCXAP received a Type 10 License (Providing Credit Rating Services) from the SFC and is the first Chinese credit rating company from the Mainland operating in the international market. In recent years CCXAP is actively in expanding the overseas market with extensive client base covered over 20 industries. CCXAP aims to provide professional services and contribution to Chinese cross-border financing and financial connection along the Belt and Road.