China Ratings Firm Still Aims to Enter U.S. Market After Rebuff
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Dagong Global Credit Rating Co. said it will press ahead with plans to enter the U.S. after the Securities and Exchange Commission rejected its application to be an approved debt rating service.
Dagong is urging China’s securities regulator to talk to the U.S. government and enable the company to comply with U.S. laws that require direct access to its books, Chairman Guan Jianzhong said in an interview in Beijing yesterday. Of the 10 firms U.S. regulators have approved, two are Japanese and one is Canadian, according to a list by the SEC.