China banking regulator: lowering of China's ratings outlook a misjudgment
BEIJING (Reuters) - The cut in the credit ratings outlook on China and its financial institutions is a "misjudgment," Shang Fulin, chairman of the China Banking Regulatory Commission (CBRC), told reporters in Beijing on Saturday without identifying any rating agencies.
On March 2, Moody's reduced its outlook on Chinese government debt to "negative" from "stable", citing uncertainty over authorities' capacity to implement economic reforms, rising government debt and falling reserves.
It also lowered the outlook on 25 Chinese non-insurance financial institutions to negative from stable.
(Reporting by Shu Zhang and Matthew Miller; Writing by Ryan Woo; Editing by Sam Holmes)
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