Arab Today, arab today rating agencies china credit outlook downgrade fails to reflect reality of chinese economy
Last Updated : GMT 12:35:58
Arab Today, arab today
Arab Today, arab today

Rating agencies' China credit outlook downgrade fails to reflect reality of Chinese economy

Arab Today, arab today

Arab Today, arab today Rating agencies' China credit outlook downgrade fails to reflect reality of Chinese economy

China's finance minister Lou Jiwei speaks at G20 press conference
Washington - XINHUA

Major credit rating agencies' decisions to downgrade the outlook for China's sovereign bonds failed to reflect the reality of China's economy, as the country registered a quite high growth rate of 6.7 percent in the first quarter of the year, China's Finance Minister Lou Jiwei said here Friday.

"While this growth rate is below our previous performance, it's still within our expectation, as the growth target for this year is set in the range of 6.5 to 7 percent," Lou told Xinhua at a press conference after the two-day G20 Finance Ministers and Central Bank Governors Meeting in Washington, D.C., the U.S. national capital.

In response to credit rating agencies' concerns about China's government debt, the Chinese official said China's central government debt is not at a high level and the country has taken measures to contain the recent increase in local government debt.

China has increased the level of central government debt at a prudential and proper rate, but it aims to advance reform and push for the deleveraging process of the society, he said.

"Credit rating agencies do not know the specific Chinese economic situation," Lou said through an interpreter. "I don't blame them because they don't know what's going on the ground in China."

The ratings on China's sovereign bonds by those agencies, however, are usually lower than the market assessments, indicating that there' s so-called bias in their ratings towards China, Lou noted.

"I really hope the credit rating agencies to have more effective communications with countries rated by them, and come to more comprehensive and objective assessments and judgments of the economic situation of the countries and measures taken by these countries," he said.

Last month, rating agencies Standard & Poor's and Moody both cut the outlook on China's sovereign bonds from stable to negative, but the decision had little impact on financial markets.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rating agencies china credit outlook downgrade fails to reflect reality of chinese economy Arab Today, arab today rating agencies china credit outlook downgrade fails to reflect reality of chinese economy

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday