# Moody's puts China on downgrade warning as growth, property pressures mount | Reuters

> Moody's placed China's credit rating on a downgrade warning, citing the costs of bailing out local governments and state firms and efforts to control the property crisis. The agency said these pressures would weigh on the economy.

- Date: 2023-12-05 · published 2023-12-05T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/32926-moody-s-puts-china-on-downgrade-warning-as-growth-property-pressures-mount
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker growth outlook for the world's second-largest economy suggests slower demand for feed grains and meal, and the rating pressure adds to yuan weakness.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-09-11 | [China issues strong warning against bets on renminbi depreciation](https://feedsoft.ai/events/34332-china-issues-strong-warning-against-bets-on-renminbi-depreciation.md) | -0.9% | -0.6% |
| USDCNY | 2024-10-07 | [US election, jobs data to pressure China’s yuan as stimulus shores it up: analysts \| South China Morning Post](https://feedsoft.ai/events/11041-us-election-jobs-data-to-pressure-china-s-yuan-as-stimulus-shores-it-up.md) | +0.7% | +1.2% |
| USDCNY | 2025-04-29 | [China ramps up global yuan push, seizing on retreating dollar \| Reuters](https://feedsoft.ai/events/25348-china-ramps-up-global-yuan-push-seizing-on-retreating-dollar-reuters.md) | -0.3% | -1.4% |
| USDCNY | 2023-08-18 | [Dollar set for fifth straight week of gains as China stays top of mind \| Reuters](https://feedsoft.ai/events/34806-dollar-set-for-fifth-straight-week-of-gains-as-china-stays-top-of-mind-reuters.md) | -0.2% | -0.2% |
| USDCNY | 2021-11-03 | [China ‘must prevent reversal’ of hot money flows as US kicks off monetary tapering, former official warns \| South China Morning Post](https://feedsoft.ai/events/44275-china-must-prevent-reversal-of-hot-money-flows-as-us-kicks-off-monetary.md) | -0.1% | -0.4% |

## Sources

- reuters.com: https://www.reuters.com/world/china/moodys-cuts-chinas-credit-outlook-negative-2023-12-05/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.