The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.
Chinese tea shop giant Sichuan Baicha Baidao Industrial aims to raise HK$2.5 billion (US$330 million) in a Hong Kong initial public offering, set to be the city’s largest new-share sale of the year, regulatory filings show.