Moody’s cuts China’s credit outlook to negative By Reuters

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© Reuters. FILE PHOTO: A Chinese national flag flutters at the headquarters of a commercial bank on a financial street near the headquarters of the People’s Bank of China, China’s central bank, in central Beijing November 24, 2014. REUTERS/Kim Kyung-Hoon/File Photo

(Reuters) – Ratings agency Moody’s (NYSE:) on Tuesday cut its outlook on China’s government credit ratings to negative from stable, citing lower medium-term economic growth and ongoing downsizing of the property sector.

Moody’s affirmed China’s A1 long-term local and foreign-currency issuer ratings and said it expects the country’s annual GDP growth to be 4.0% in 2024 and 2025.

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