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China downgrade “likely to hit” Bond Connect

Staff Writer
The only real surprise about Moody’s cut in China’s rating was the timing. But some see the move yesterday as a signal of doubt that may stall the opening of mainland bond markets.
China downgrade “likely to hit” Bond Connect

It is hardly news that China has a huge and fast-growing debt pile, which explains investors' muted reaction to yesterday's mainland sovereign downgrade by Moody’s. Especially as local buyers, who own 96% of outstanding government bonds, tend to ignore foreign ratings.

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