Moody's negative on China property

Moody's Investors Service has a negative outlook for China's property development sector over the next 12 to18 months as local developers face rising operating uncertainties, a tight credit environment and high regulatory risk."Contractions in sales volumes, price declines, and land purchases in the first half of the year have caused balance-sheet liquidity and financial profiles to deteriorate to such an extent that we have had to take various negative rating actions over the past si…