XFN holds first credit ratings seminar

Xinhua Financial Network (XFN), the Hong Kong-based China financial information provider, held its first China credit ratings seminar in Singapore today, receiving an enthusiastic response from leading financial institutions.

XFN, which set up its representative branch in Singapore in November 2001, issued credit ratings reports on another 25 Chinese listed companies earlier this week.

Ms Fredy Bush, XFN’s CEO, said she was delighted at the strong interest shown in the seminar, which addressed the topic: ‘‘Unravelling the credit ranking and dynamics of Chinese Enterprises’’.

‘‘This underscores the strong interest of investors in China and their eagerness to obtain information which provides greater transparency on Chinese companies,’’ she said.

Institutions represented at the seminar included the Government of Singapore Investment Corp Ltd, Citibank, ABN Amro Bank, OCBC Bank, UBS Warburg, Credit Suisse First Boston, Deutsche Bank, Temasek Capital, The Royal Bank of Scotland and Hewlett-Packard.

XFN is the premier financial provider of China-focused market indices, real-time financial news, credit ratings and corporate data, providing investors worldwide with tools allowing them to understand China’s markets and to manage their investments in China.

Ms Bush said that China represents a huge investment and market development opportunity for international market players following China’s entry into the WTO.

‘‘It is important for China to establish an internationally accepted infrastructure to achieve the successful transformation already well underway,’’ Ms Bush added.