asia corporate finance register andrew monahan is with me now.d marked the first time ever, there are a lot of challenges here, aren't they? >> sunday marked the day china agreed in may to let foreign ratings companies come into china and issue ratings on local corporate lawns. .- corporate bonds there are huge opportunities here, one of the world's biggest bond markets, and the scope for development is vast. some big challenges, and some money managers we spoke with were flagging a few. when theing at a time connect is opening the bond market further to more investors coming in, so there are opportunities on the investment and business side for the players there, but for the ratings companies, what they likegrapple with is, elsewhere, rating companies charge the issuers for the ratings they give them, and many chinese companies are used to having rather high ratings, so to come at a time when chinese bond issue is are trying to lower costs, for them to look at potentially higher ratings, but we don't know yet because they don't have ratings from