日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Beijing rebuts credit rating downgrade

By WANG YANFEI, XIN ZHIMING | China Daily | Updated: 2017-05-25 05:02
Share
Share - WeChat

China rebutted international rating agency Moody's downgrading of the country's credit rating on Wednesday, saying the company overestimated the difficulties facing the world's second-largest economy and underestimated the effect of its restructuring reforms and financial strength. Analysts said Moody's has been too pessimistic to appropriately assess China's debt management.

Moody's Investors Service announced its downgrading of China's long-term local currency and foreign currency issuer ratings to A1 from Aa3 and changed the outlook to stable from negative.

"The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economywide debt continuing to rise as potential growth slows," according to a Moody's statement. "While ongoing progress on reforms is likely to transform the economy and financial system over time, it is not likely to prevent a further material rise in economywide debt, and the consequent increase in contingent liabilities for the government."

Moody's said the change to a stable outlook "reflects our assessment that, at the A1 rating level, risks are balanced".

China's Ministry of Finance said Moody's used "inappropriate methods" that kept it from reflecting China's real financial situation.

The ministry criticized Moody's failure to give enough weight to reforms. China has made much headway in economic restructuring, with a focus on reduction of excessive production capacity and cutting corporate and government debt. It has also seen higher-than-expected year-on-year GDP growth of 6.9 percent in the first quarter of 2017, firming market expectations that it will meet its GDP growth target of about 6.5 percent this year.

"Although its rating was downgraded today, there's not much of a problem in the Chinese economy," said Lu Feng, an economics professor at the National School of Development, Peking University. "China's economy has become much more resilient."

"Moody's overestimates difficulties ... and underestimates the government's ability to deepen supply-side structural reform and appropriately expand overall demand," the finance ministry said.

The National Development and Reform Commission said on Wednesday that China's total debt level is about 256 percent of GDP, lower than that of major developed economies, which is 279 percent on average, according to the Bank for International Settlements.

It also said in a statement that China's overall debt situation is stable and controllable. China has a high savings rate and the proportion of its foreign debt to overall debt is low, indicating a low possibility for China encountering a systemic debt crisis, it said.

Moody's said China's direct government debt burden could rise gradually toward 40 percent of GDP by 2018 and closer to 45 percent by decade's end. "That is too pessimistic," said Huo Zhihui, deputy director of rating technology at China Bond Rating Co. "Our estimates show that China's overall debt ratio will not reach 40 percent because China has imposed strict restrictions on government debt issuance," he said.

Huo said China's overall direct government debt ratio has dropped to 36 percent from 39 percent in 2014 and, given strict control of debt, the possibility is slim that the ratio will rise significantly.

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 亚洲图片综合网 | 极品销魂美女一区二区 | 激情豪放女 | 国产精品666 | 亚洲最大的网站 | 国产午夜麻豆影院在线观看 | 成人午夜视频在线播放 | 性生活免费观看视频 | 国产精品热久久 | www.色视频| 午夜小影院 | 亚洲午夜久久久久久久久久久 | 国产精品蜜 | 亚洲日本在线播放 | 自拍偷拍精品视频 | 91精品国产一区二区 | 手机看片国产日韩 | 蜜桃成人在线观看 | 色播在线视频 | 日本精品久久久久久久 | 午夜精品视频在线 | 国产乱国产乱300精品 | 日产精品久久久一区二区 | 国产精品久久久久久久久久免费看 | 99视频+国产日韩欧美 | 欧美区亚洲区 | 欧美成人精品一区二区 | 午夜国产精品视频 | www狠狠操 | 91激情视频在线观看 | 日韩黄色一区 | 日本中文字幕一区 | 影音先锋在线视频 | 全部免费毛片在线播放 | 蜜桃一区二区 | 天天干天天爱天天操 | 天天操夜操 | 欧美成人免费视频 | 99re久久| 欧美亚洲精品天堂 | 欧美性大战xxxxx久久久 |