Moody's announced a downgrade of the credit rating of China's real estate sector. From a stable level to a negative level, citing economic problems as the reason.

Moody's rating agency has downgraded the credit rating of China's real estate sector. from a stable level down to negative Citing reasons for the troubling economic problems This will result in lower real estate sales in China. Even though the government has measures to help. Moody's expects home sales in China to fall about 5 percent over the next six to 12 months. And it is considered that the government's measures to stimulate real estate purchasing power are likely to have an effect only in the short term.

The downgrade comes as Chinese real estate companies face a lack of liquidity and have defaulted on their debts. with Evergrande Company Giants in the real estate industry is the center of this crisis.-

Source: Thai News Agency