S&P stated that China’s deleveraging process was occurring more slowly than expected, with lending by financial institutions starting to rise. However, China’s deleveraging process will continue to be challenging, particularly since market forces are not in place to accommodate the task. S&P rating cut amidst China’s deleveragingS&P cut China's rating from A+ from AA, due to ongoing strong credit growth that has resulted in increasing risks. The deleveraging process picked up steam this year after Guo Shuqing took over as chairman of the China Banking Regulatory Commission. It's probably realistic, then, for S&P to call China's deleveraging process slow.

Source: Forbes September 22, 2017 18:45 UTC