Media comment – S&P downgrades China credit rating

22.09.2017

Ludovic Subran, chief economist at Euler Hermes, said:

China’s credit risk downgrade has been long awaited. Yet the timing is off as China is taking remedial actions, which include introducing macro prudential policies to tame leveraged corporates and sanitise their financial problems. The journey will be long and bumpy as shown by the record high and accelerating number of insolvencies, which will continue on the upward trend we’ve seen over the last three years.

 

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