BREAKING: Fitch Ratings downgraded China’s long-term foreign-currency issuer default rating from ‘A+’ to ‘A’ on April 3, 2025, citing concerns over weakening public finances and rapidly rising debt levels. The agency highlighted an expected increase in China’s general government deficit to 8.4% of GDP in 2025 and projected slower economic growth at 4.4%, down from 5% in 2024
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