Moody’s cuts China property sector’s outlook to negative

Transcript

00:00 Meanwhile, worldwide credit rating agency Moody's downgraded China's property sector

00:05 from stable to negative, given growth challenges it faces in spurring sales even with government

00:11 support.

00:12 Moody's expects sales to fall 5 percent, thereabouts, in the next 6 or 12 months, even with government

00:19 intervention and measures to attract buyers that will likely be short-lived or insufficient.

00:25 And giant developers China Evergrande Group and Country Garden Holdings have not been

00:31 spared by falling sales and failing to get up to speed in its credit or interest payments.

00:38 The latest hit on China's property industry reflects the sagging economy the powerhouse

00:43 nation has suffered since the pandemic hit.