The People's Bank of China (PBOC) and the National Association of Financial Market Institutional Investors (NAFMII) have approved Fitch (China) Bohua Credit Ratings to rate financial institutions, including banks, non-bank financial institutions and insurers, and their securities, and structured finance bonds in China's interbank market.

Fitch Bohua, which describes itself as “a separate and independent company” wholly owned by global credit rating agency Fitch Ratings, will provide forward-looking ratings, in-depth research, valuable data tools and insightful commentary for investors and other market participants.

“We are confident that market participants will value our independent analysis, transparent methodologies and rigorous ratings process in line with international best practice," says Danny Chen, Fitch Bohua’s chief executive officer.

"Fitch Bohua strengthens Fitch Ratings' franchise significantly in Asia-Pacific," adds Kwong Li, Fitch Rating’s head of Asia-Pacific business management. “China is a core growth market for Fitch Ratings.”

Fitch Bohua was set up in 2018.