Financial Secretary John Tsang said Hong Kong will nurture innovation, start-ups and creative industries to maintain a competitive edge this year, but the city’s close ties to the mainland still resulted in Moody’s issuing the downgrade. Photo: Xinhua Financial Secretary John Tsang said Hong Kong will nurture innovation, start-ups and creative industries to maintain a competitive edge this year, but the city’s close ties to the mainland still resulted in Moody’s issuing the downgrade. Photo: Xinhua
Financial Secretary John Tsang said Hong Kong will nurture innovation, start-ups and creative industries to maintain a competitive edge this year, but the city’s close ties to the mainland still resulted in Moody’s issuing the downgrade. Photo: Xinhua

Hong Kong’s credit rating risks cut as financial secretary blasts Moody’s assessment as ‘mistake’

Credit rating changes would lead to high interest and debt repayment for city’s major infrastructure projects

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Financial Secretary John Tsang said Hong Kong will nurture innovation, start-ups and creative industries to maintain a competitive edge this year, but the city’s close ties to the mainland still resulted in Moody’s issuing the downgrade. Photo: Xinhua Financial Secretary John Tsang said Hong Kong will nurture innovation, start-ups and creative industries to maintain a competitive edge this year, but the city’s close ties to the mainland still resulted in Moody’s issuing the downgrade. Photo: Xinhua
Financial Secretary John Tsang said Hong Kong will nurture innovation, start-ups and creative industries to maintain a competitive edge this year, but the city’s close ties to the mainland still resulted in Moody’s issuing the downgrade. Photo: Xinhua
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