Fitch Cuts China Outlook to Negative From Stable

04/10/2024 Bloomberg: Because of China's new growth model and rising economic uncertainty, Fitch decides to adjust China's outlook from stable to negative. Fitch cites that China's real estate sector is in deep crisis and not contributing to GDP as much as it used to. China's national fiscal deficit and local government debt continue to increase. China's attempts to transform into new industries such as technology, electric vehicles, and renewable energy have resulted in a more uncertain economic outlook during the transition.
04/10/2024 彭博社报道：鉴于中国新型的增长模式和经济上升的不确定性，惠誉决定将中国的前景预期从稳定调至负面。惠誉指出，中国房地产行业深陷危机，对国内生产总值的贡献远不如以前，国家财政赤字和地方政府债务也在持续增加。中国试图向科技、电动汽车、可再生能源等新型产业转型，但转型期间更加不确定的经济前景已成事实。