S&P Global (SPGI) has been granted approval to establish and operate a credit ratings agency (CRA) in China's domestic bond markets. The company said that its filing with the People's Bank of China Operations Office (Beijing) has been formally accepted, and its registration application with China's National Association of Financial Market Institutional Investors (NAFMII) has also been approved. Under the terms of the NAFMII approval, S&P Global (China) Ratings will be authorized to rate issuers and issuances from financial institutions and corporates, structured finance bonds and Renminbi denominated bonds from foreign issuers, also known as Panda bonds.