Key facts
- China Chengxin International Credit Rating Co. Ltd. (CCXI) has withdrawn a new policy on credit rating suspensions.
- The policy was published on Monday and withdrawn shortly after.
- Market speculation suggested the rules were a loophole to avoid regulatory scrutiny.
- The swift reversal underscores the sensitivity around rating practices in China.
China Chengxin International Credit Rating Co. Ltd. (CCXI) has abruptly withdrawn a new policy concerning credit rating suspensions from its website, just days after its release on Monday. The policy had generated market speculation that it was designed as a loophole to evade regulatory oversight. This rapid reversal highlights the heightened sensitivity surrounding credit rating practices in China, particularly as regulators intensify their crackdown on the improper termination of ratings.