Fitch picked a heckuva day to downgrade a major economy.

  • We forecast China's general government deficit to rise to 8.4% of GDP in 2025, from 6.5% in 2024
  • We forecast China GDP to increase by 4.4% in 2025 from 5.0% in 2024
  • Tariff rise has been much more drastic and China will still be affected by a broader tariff-induced global slowdown

China's finance ministry responded saying the downgrade is biased and cannot fully and objectively reflect the actual situation in China.

Source: Forex Live