China Growth & Credit
Policy uncertainties around trade, unforeseen events like coronavirus outbreak, as well as long-term structural challenges pose credit risks to China, increasing credit differentiation between domestic regions and sectors.
  • SUMMARY
  • REPORTS

  • Sector In-depth
    13 Mar 2024|Moody's Investors Service

    Policymakers set an economic growth target of 5% for 2024. Fiscal stimulus may fall short of the target, but proposed fiscal reforms could have a significant medium-term impact.


    sector in-depth
    06 Mar 2024|Moody's Investors Service

    Measures to stimulate housing demand, broaden developers’ funding channels and transform the real estate sector in China will not easily improve homebuyer sentiment amid ongoing economic concerns.


    sector in-depth
    21 Feb 2024|Moody's Investors Service

    While the government has provided some funding support with regards to onshore public bonds, there could be spillover risk from other forms of debt.


    Sector In-Depth
    06 Feb 2024|Moody's Investors Service

    Cyclical and structural pressures will continue to weigh on China’s growth prospects despite stronger policy support for the economy over recent months.


    Sector Comment
    06 Feb 2024|Moody's Investors Service

    Developers may be able to obtain the necessary funding to complete and deliver their qualified unfinished projects. But, a market recovery remains unlikely in the near term amid weak housing demand.


    sector comment
    30 Jan 2024|Moody's Investors Service

    The court order reinforces our view that the Chinese government will choose to resolve property sector debt issues via commercial channels over corporate bailouts.


    sector comment
    30 Jan 2024|Moody's Investors Service

    Cyclical disinflationary pressures will likely dissipate as energy and food prices steady. But, if unmanaged, structural economic issues could cause longer-term disinflation or deflation.


    Sector in-depth
    15 Jan 2024|Moody's Investors Service

    The economic slowdown and stressed property sector are putting pressure on budgets, while central government support is becoming more selective.


    Sector In-Depth
    11 Jan 2024|Moody's Investors Service

    While the government has provided liquidity support for financially distressed regional and local governments and LGFVs to alleviate refinancing pressures, challenges for the sectors remain.


    Infographic
    14 Dec 2023|Moody's Investors Service

    Weak sentiment will strain sectors already facing difficulty like property, causing spillover effects to other industries. Slower global growth and geopolitical tensions add to challenges.


    outlook
    14 Dec 2023|Moody's Investors Service

    Slower projected GDP growth, low interest rates and growing asset risks, particularly in the property sector and at local government financing vehicles, underpin our negative outlook for 2024.


    Outlook
    13 Dec 2023|Moody's Investors Service

    Credit conditions for nonfinancial companies in China will worsen in 2024 as GDP growth softens and the prolonged property market downturn has adverse spillover effects on other sectors.


    Sector In-Depth
    08 Dec 2023|Moody's Investors Service

    China faces a significant task of ensuring the stability of its financial system while discouraging expectations of implicit government support. Weaker growth is also reducing its fiscal capacity.