03 January 2013

Fitch Solutions Receives China Financial Information Services Licence

- Approval from China's State Council Information Office (SCIO) 
- To distribute credit ratings, data & research services on the mainland 

Hong Kong/Singapore - 02 January 2013 - Fitch Solutions announced it has received approval from China's State Council Information Office (SCIO) to distribute the agency's credit ratings, data and research services on the mainland. 

"We are excited to be certified as one of 80 official foreign institutions providing financial information services in China," said Oliver Putz, Head of Fitch Solutions Asia Pacific. "China is a leader in the USD25 billion a year market for financial information services, and we look forward to serving the needs of asset managers, banks, insurers, government and other financial institutions in the country." 

Fitch Solutions aims to double its business in China in the next few years as China's financial market rapidly expands in size and sophistication. 

"China-based investors and market participants are increasingly hungry for real-time financial information, offering a ready market for Fitch Solutions' products such as credit research and ratings, quantitative risk and performance tools, pricing data and feeds, as well as structured finance solutions including surveillance models and portfolio management systems," added Mr. Putz. 

Fitch Solutions, a division of the Fitch Group, focuses on the development of fixed-income products and services, bringing to market a wide range of data, analytical tools and related services. The division is also the distribution channel for Fitch Ratings content. 

Fitch Ratings and Fitch Solutions are part of the Fitch Group, a jointly-owned subsidiary of Fimalac, S.A. and Hearst Corporation. 

Source: Fitch Ratings