Ex-China central banker joins rating firm for offshore push

Hong Kong

PENGYUAN Credit Rating (Hong Kong) is building out a new team to analyse the credit worthiness of companies looking to sell offshore bonds, the latest Chinese ratings firm to expand overseas to take advantage of the booming Asian dollar bond market.

The Hong Kong-based unit of Shenzhen's Pengyuan Credit Rating has hired 11 people since the start of October, according to Jonathan Hu, chief executive officer at Pengyuan. The team comprises of four sector heads, that includes a former People's Bank of China official, six junior analysts and one chief analytical officer.