Govt Picks 8 Sectors for Reforms to Duck Downgrade, Attract Firms Exiting China

The government has identified eight sectors for fast-track reforms with the twin objective of escaping a downgrade of the sovereign by global ratings agencies as well as attracting companies looking to move out of China, officials familiar with the development told Mint. The idea is to showcase to agencies like Standard & Poor’s (S&P) and Moody’s Investors Service that the government is serious about reforms as well as striking a fiscal balance even as it goes for higher expenditure and incentives to restore the health of the economy.Read More…