Moody's rating downgrade on 'shallow' evidence, says HK financial secretary
He says HK's financial system has policies in place to improve risk management for mainland-related loans
Hong Kong
MOODY'S Investors Service's decision to downgrade Hong Kong's debt rating last week was based on "shallow" evidence, Hong Kong Financial Secretary Paul Chan wrote in a blog on Sunday.
"The evidence on which the ratings company mechanically downgraded Hong Kong's debt rating based on the very close economic relationship between Hong Kong and the mainland is shallow," Mr Chan wrote in a blog on the official website of the financial secretary.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Xi tells Blinken US, China should be 'partners, not rivals'
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing