Three rating agencies from China, the United States and Russia are teaming up to launch a new credit rating company.The idea is to try to challenge current global industry leaders Moodys, Fitch and S&P.The Universal Credit Rating Group is being set up by Chinas Dagong, US-based Egan-Jones and Russias RusRating.Its going to be headquartered in Hong Kong, and is going to be up and running in the next 6-months.For more on this, we are now cross live to Dr. Cao Can, CRIs financial commentator.
