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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

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