As the three main rating agencies (S&P, Fitch, and Moody's) are based in the West, China is trying to develop an alternative rating agency, called Dagong. Apparently, Dagong thinks US Treasuries don't deserve a AAA rating:
http://www.bloomberg.com/news/print/2010-11-09/china-s-dagong-downgrades-u-s-to-a-on-quantitative-easing-xinhua-says.html