Moody’s China downgrade ‘illogical’, overstates debt: People’s Daily

May 25, 2017 SHANGHAI (Reuters) – The decision by Moody’s Investors Service to downgrade China’s credit rating is “illogical” and overstates the levels of government debt, a commerce ministry researcher said in an editorial in the official People’s Daily newspaper on Thursday. Mei Xinyu, a researcher at China’s Ministry of Commerce, wrote in a front page editorial of the paper’s overseas edition the downgrade, Moody’s first for China since 1989, overstated China’s reliance on stimulus and the country’s debt levels. Moody’s downgraded China’s credit ratings on Wednesday for the first…

Read More