Sing Tao Daily News
When Hong Kong (referred to as Hong Kong) was affected by the China -US trade war and anti -repair campaign, yesterday (6th) was lowered by the debt reputation rating agency, which may push up the cost of lending financing for enterprises, and even affect international investorsIn addition to the government (referred to as the Hong Kong Government) to assist in reducing the risk of bad debts of the enterprise, it is necessary to prevent international crocodile borrowing a series of negative predictions to make waves in the financial market.
Among the three major international rating agencies, Standard and Moody's have relegated Hong Kong two years ago. The S & P is lowered from the highest AAA to AA+. Moody's lower AA1 is reduced to AA2. Both of them are both. Both are both. Both are both. BothLooking forward to Hong Kong's prospects stable.In the past two months, a demonstration conflict in Hong Kong has occurred in Hong Kong. Moody's in early July also believed that the ability of large -scale demonstrations to check the government's ability to check the government has weakened, but it has hindered the credit situation of Hong Kong.By the end of August, S & P reports' concerns about the expression of demonstrations are obviously different from Moody's. The most important short -term risk of the Hong Kong government's credit rating is political risks.However, both have maintained rating and prospects.
Fitch did not lower the rating of Hong Kong two years ago, and maintained at the highest level AA+. This time, the level to AA is reduced. It is considered to be chased.Fitch's outlook is negative.
Credit rating reduced financing costs rising
Reducing Hong Kong's sovereign credit rating directly affects the cost of issuing debt issuance of government, public institutions and some large enterprises.Many large -scale investment funds depend on the report of rating agencies to determine the investment orientation. The debt issuers are reduced to the rating.The third runway of bonds issued by the Authority may pay more interest.
In addition, the credit rating of private institutions will not be higher than one place. When the sovereign rating decreases, it means that the corporate rating in the area will be brought down to reduce the bone brand effect, affecting investment confidence and atmosphere.Although most of the small and medium -sized enterprises will not issue bonds in the open market, they will borrow loans from banks. However, if the overall borrowing market is tightened, small and medium -sized enterprises may be disaster.
Under the attack of trade war and demonstration conflicts, the government has announced a series of measures to assist small and medium -sized enterprises' funds to turn on and reduce financing difficulties, including allowing companies to use the financing guarantee plan for the company's small and medium -sized enterprise.The cooperation of large banks to avoid the emergence of corporate closure and further crack down on the economy, and it is not allowed to become a bad debt capital.
One of the two major reasons for this relegation is the recent conflict incident, which constitutes long -term damage to Hong Kong's governance system and international image of the rule of law.If social disputes continue, it will further weaken Hong Kong's credit.To keep investor confidence in Hong Kong, you must stop chaos as soon as possible to restore stability.
Negative reports affect investment confidence
The shock of demonstration is a short -term reason. Fitch proposes the long -term reason for the relegation. It is the increasingly close connection between the Hong Kong and the Mainland (Mainland) in economy, finance, society, and politics.Large systems and regulatory challenges.At present, the three major rating agencies have allowed Hong Kong to enjoy the sovereign rating higher than Mainland China. The S & P and Fitch are three levels, Moody's high level, Hong Kong's reputation is located in a high -level category, and the Mainland belongs to middle superior.Not only Fitch, the attitude of S & P is also a narrowing gap between the two places, and Fitch shows that the narrowing process means that the rating of Hong Kong has fallen.
Western political and economic circles are biased to worry about the negative consequences brought by the integration of Hong Kong and the Mainland. The Financial Secretary Chen Maobo refuted yesterday, saying that the increasingly close economic and financial connections between the two places should not be a constraints on the credit rating of Hong Kong.The active driving force for the long -term development of Hong Kong.
As China and the United States have intensified and the U.S. government continues to sing China, Hong Kong has become one of the wrestling fields, and the Hong Kong government's early warning economy may have a technical recession.Can not be ignored.Drawing on historical experience, if the market environment in Hong Kong further deteriorates, it will provide opportunities for international crocodiles to sniper, and from it to the chaos and wealth, causing Hong Kong to fall into a financial war.The Hong Kong Government must pay close attention to development and strengthen defense.
