China Growth & Credit
贸易政策的不确定性、新冠肺炎疫情爆发等不可预期事件及长期结构性挑战对中国构成信用风险,加剧了国内各地区和行业间的信用质量分化
  • 摘要
  • 报告

  • 行业深度研究
    29 Jun 2020|Moody's Investors Service
    The current restructuring of Peking University Founder Group Corp. (PUFG) is the latest example highlighting the limitations of keepwell deeds. There are significant constraints to the credit support under keepwell deeds because they do not ensure that support from their providers would be forthcoming when the issuers are in distress.
    政府及其相关主体信用研究
    行业深度研究
    10 Apr 2020|Moody's Investors Service
    我们预计2020年发行势头将得以延续。再融资将继续推动城投债发行。境内支持性的信贷宽松措施将继续推动境内发债。

    行业深度研究
    30 Jun 2020|Moody's Investors Service
    Zhejiang is an affluent and coastal province in eastern China. LGFVs in Zhejiang will continue to benefit from onshore credit-easing policies in next 12 months. LGFVs owned by prefecture-level cities in Zhejiang province have fairly strong funding capabilities, but credit risk still varies.
    行业深度研究
    21 Oct 2019|Moody's Investors Service
    Our regional heat map of China reveals areas of potential risk by looking at RLG, SOE and banking indicators.

    行业深度研究
    30 Jun 2020|Moody's Investors Service
    新冠肺炎疫情导致的名义GDP下降,从而推动杠杆率快速上升。广义影子信贷增加及银行贷款增长加速,从而支持经济复苏。基建贷款的增长扭转了信托贷款下滑的局面。

    行业深度研究
    15 Jun 2020|Moody's Investors Service
    Banking system statistics released by the People's Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) suggest that Chinese banks' asset quality, capitalization and profitability weakened in the first quarter of 2020 when disruptions from the coronavirus outbreak peaked.

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    行业深度研究
    11 Jun 2020|Moody's Investors Service
    Kristen McNamara and Franco Leung discuss the exposure of sectors and rated companies in China to disruptions from the coronavirus pandemic. Just 6% of the 256 companies we rate have high exposure. All of the high-exposure companies have negative outlooks or are under review for downgrade, and more than half have high refinancing risk. 相关报告:多数受评企业受疫情影响较小或中等

    行业深度研究
    05 Jun 2020|Moody's Investors Service
     促经济、稳就业是2020年中国 (A1/稳定) 政府的首要任务。这是于5月28日正式闭幕的第十三届全国人民代表大会第三次会议和政协第十三届全国委员会第三次会议 (下称“两会”) 传递出的信息。

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    访谈
    07 May 2020|Moody's Investors Service
    ​Franco Leung and Kaven Tsang from the Corporates team discuss credit trends for rated Chinese property developers and their ability to weather macroeconomic challenges this and next year.​​ >> 阅读相关报告

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    李秀军
    副总裁 - 高级信用评级主任
    Lillian.Li@moodys.com