Moody’s Cuts Outlook for Chinese Banks, Hongkong, LGFVs

12/06/2023 James Mayger: Moody's cuts outlook for Chinese banks, Hongkong, LGFVs. It shows the government is going to have to spend the increased fiscal stimulus to try to deal with the debt problems. If you're looking at just the fundamentals of the economy on the mainland, the government is going to have to pay a lot more money to restructure, to refinance all the local government financing debt, and its local government financing vehicle debt. Obviously it is going to affect their ability to repay.
12/06/2023 詹姆斯·梅杰: 穆迪降低中共国银行、香港，以及城投债信用评级, 这显示政府不得不增加财政刺激去解决债务问题。如果你看大陆经济的基本面，政府将不得不支付大量金钱以重组、再融资地方政府金融债务，包括地方政府融资工具债务。显然，这将影响到他们的偿债能力。