|full company name||Dagong Global Credit Rating (Hong Kong) Co., Limited|
|country of risk||Hong Kong|
Dagong Global Credit Rating (Hong Kong) Co., Limited, (Dagong HK) a subsidiary of Dagong Global Credit Rating Co., Limited, applied for and was granted a Type 10 License (Providing Credit Rating Services) by the Securities and Futures Commission of Hong Kong (SFC) in July 2014. The initiative will spearhead Dagong’s regional and global expansion, as it becomes a leader in the pan-Asian credit rating space. Dagong HK is dedicated to provide a wide range of credit rating services for issuers and investors, mainly covering corporate, financial institutions, which could contribute to debt issuance in financial markets.
Benefiting from its flourishing RMB bond market, Hong Kong is a booming international finance centre, which has grown dramatically in recent years to offer an increasing spectrum of bond products. Combined, these factors have, in a short time, turned Hong Kong into one of the most sought-after investment destinations for international investors. However, its future success and sustainable development hinges on it effectively resolving the asymmetry of information on debtors’ credit risks, a concern for investors. Dagong, with its unique experience, extensive rating coverage for onshore RMB issuance in China, will play an important role in this.