China's battered economy suffers another blow as Moody's slashes its credit outlook

• Moody's Investors Service slashed its outlook for Chinese government bonds to negative on Tuesday.
• The credit-rating agency cited stagnant growth and the country's ongoing property crisis.
• Beijing has rolled out stimulus packages and ramped up borrowing in a bid to support the embattled Chinese economy in 2023.

Moody's Investors Service slashed its outlook for China's credit rating on Tuesday, dealing a fresh blow to the world's second-largest economy.

The credit-rating agency said in a statement that it would maintain its A1 grade for Chinese government bonds, but cut its outlook from "stable" to "negative."