FILES: People are seen visiting the Bund promenade along the Huangpu river at the Huangpu district in Shanghai on June 29, 2023 (Photo by PEDRO PARDO / AFP)
Ratings agency Moody's 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. - Reuters
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