Fitch IBCA, the London- and New York-based international rating agency, has entered into a joint venture with Chengxin Securities Rating Co. of China, one of two agencies authorized to assign national ratings in China.

The joint venture is the first of its kind between a Chinese and non- Chinese rating agency, Fitch IBCA said. The joint company will be known as China Chengxin International Rating Co. and be based in Beijing. It will rate domestic securities, financial institutions, and enterprises across China.

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