News Content
Moody's degrades HK to 'negative' as fears of Beijing meddling grow
RATING agency Moody's downgraded its outlook for Hong Kong, citing increasing political riskiness and closer economic ties with China, changing its outlook from "stable" to "negative", reports Agence France-Presse.
With violent street clashes between police and protesters last month and the fate booksellers who went missing and later turned up on the mainland facing criminal investigation has triggered fears of increasing Chinese interference in the city.
"Increasing political linkages are likely to weigh on Hong Kong's institutional strength," Moody's Investors Service said in a statement. "Political risk has risen in Hong Kong in light of ongoing tensions over the implementation of the 'One Country, Two systems' policy," it said.
Hong Kong Financial Secretary John Tsang defended the territory's economic prospects after ratings agency Moody's downgraded the financial hub's long-term debt and issuer ratings from "stable" to "negative".
Mr Tsang maintained that "Hong Kong is in a good position to benefit from the structural rebalancing in the mainland's economy from investment to consumption".
With violent street clashes between police and protesters last month and the fate booksellers who went missing and later turned up on the mainland facing criminal investigation has triggered fears of increasing Chinese interference in the city.
"Increasing political linkages are likely to weigh on Hong Kong's institutional strength," Moody's Investors Service said in a statement. "Political risk has risen in Hong Kong in light of ongoing tensions over the implementation of the 'One Country, Two systems' policy," it said.
Hong Kong Financial Secretary John Tsang defended the territory's economic prospects after ratings agency Moody's downgraded the financial hub's long-term debt and issuer ratings from "stable" to "negative".
Mr Tsang maintained that "Hong Kong is in a good position to benefit from the structural rebalancing in the mainland's economy from investment to consumption".
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
