Ratings agency Moody's said Wednesday it maintained a 'negative' outlook on China's banking sector due to a drawn out recovery from Covid controls.
"The challenging adjustment to the exit from zero-COVID, for both borrowers and lenders, will weigh on banks' asset quality and profitability over the next 12-18 months," said Moody's analysts in a note Wednesday.
BEIJING — Ratings agency Moody's said Wednesday it maintained a "negative" outlook on China's banking sector as a result of a drawn out recovery after Beijing's Covid controls ended. "Our outlook on the banking sector remains negative," said Vice President Nicholas Zhu and Associate Managing Director Chen Huang, the authors of the report.
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