Moody's downgrades China's credit rating
Moody's said the new rating outlook is stable, however, and said the country remains resilient to negative shocks and that growth is likely to remain comparably strong in the near-term. Systemic risk is relatively lowThe NDRC statement added, "China's debt is mostly domestic and our leverage is supported by a high deposit rate (at around 50 per cent), so the possibility to trigger systemic risks is relatively low".