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 rating agency said in an announcement that it had lowered the outlook on three major banks - Standard Chartered Bank, HSBC Bank (Hong Kong)
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.