Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

<p>Recently, China’s Banking and Insurance Regulatory Commission issued new rules for asset-investment companies, or AICs, set up by banks, in order to speed up the debt-to-equity swap program. The government has been regarding DES as one of the major tools to accelerate bad-debt disposal for banks and reduce leverage ratios in the highly indebted corporate sector. However, we believe it’s unlikely to reach sufficiently meaningful scale to address China's debt problem. We retain our fair value…</p>

Recently, China’s Banking and Insurance Regulatory Commission issued new rules for asset-investment companies, or AICs, set up by banks, in order to speed up the debt-to-equity swap program. The government has been regarding DES as one of the major tools to accelerate bad-debt disposal for banks and reduce leverage ratios in the highly indebted corporate sector. However, we believe it’s unlikely to reach sufficiently meaningful scale to address China's debt problem. We retain our fair value…

Relaxation of Debt-To-Equity Swap Won't Change Our Outlooks for Chinese Banks