China removes credit rating requirements for debt financing tool issue by non-financial firms

BEIJING (Reuters) - China will remove credit rating requirements for issuance of debt financing tools by non-financial firms in a pilot scheme, the central bank said on Wednesday.

The move aims to further enhance the autonomy of market entities in using external ratings and promote the market-oriented reform of the credit rating industry, the People's Bank of China said in a statement.

(Reporting by Beijing newsroom, editing by Louise Heavens)