S&P, Moody's Negative Ratings on China's Credit Are Too Pessimistic, PBOC Says
Yicai Global
/SOURCE : Yicai
S&P, Moody's Negative Ratings on China's Credit Are Too Pessimistic, PBOC Says

(CBN Global) April 5 -- S&P's and Moody's downgrade of China's credit rating to negative from stable is overly pessimistic when there are obvious signs that the economy is recovering, Mr. Ma Jun, chief economist of the Research Bureau of the People's Bank of China, said yesterday.

China's real estate investments rose in the first two months of this year from the same period last year, profits for industrial enterprises are growing, and the Purchase Managers Index in March also rebounded sharply, Mr. Ma said. Even exports have improved from the first two months of this year.

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