China central bank chief: cut reliance on rating agencies (Reuters)

BEIJING (Reuters) ? China's Central Bank Governor Zhou Xiaochuan said financial companies must cut their reliance on ratings agencies, and that China is considering setting up a system where investors pay for ratings, rather than bond issuers.

Zhou was speaking at a forum in Beijing.

(Reporting by Aileen Wang and Koh Gui Qing)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20111225/bs_nm/us_china_cbank_ratings

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