May 10 2018, 9:21 AMMay 11 2018, 8:36 AMMay 10 2018, 9:21 AMMay 11 2018, 8:36 AM
Fitch Ratings has cut its assessment for Hong Kong banks' operating environment from 'a+' negative to 'a' with a stable trend, due to Hong Kong’s increasing connectivity with China’s economy and financial system. The company noted that China’s governance standards were much lower than Hong Kong’s, measured by World Bank indicators, and cited above-trend credit growth and property price inflation as risks in Hong Kong stemming from its links with the mainland.