May 24, 2017 / 7:43 AM / 2 years ago

China says debt risks controllable following Moody's downgrade

BEIJING (Reuters) - China’s state planner said on Wednesday its debt risks are generally controllable as measures to lower corporate leverage have achieved initial results and systemic risks from debt are relatively low.

The National Development and Reform Commission (NDRC) posted the statement on its website hours after Moody’s downgraded its credit rating for China on Wednesday, for the first time in nearly 30 years, citing deteriorating financial conditions complicated by rising debt.

Reporting by Beijing Monitoring Desk and Yawen Chen; Editing by Jacqueline Wong

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