New index joint-venture for Standard & PoorÆs and CITIC in China

Ratings partnership plan to add to existing Chinese benchmarks.
International investment research-to-ratings groups, Standard PoorÆs and CITIC Securities, yesterday February 16 announced the formation a new joint venture aimed at developing a series of new benchmark indices for the Chinese securities market.

The 50-50 joint venture, which will be named Standard PoorÆsCITIC Index Service, formalises an existing relationship between the groups.

According to SP, the new joint venture ôwill develop new and innovative indices to meet the changing needs of domestic and international investors, and will promote financial innovation and global participation in ChinaÆs equities and fixed income marketö.

SP president Kathleen Corbet says ôWith ChinaÆs rapid integration into the global financial markets, we expect increasing demand for innovative Chinese investment...
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