By Doug Young & Rene Vanguestaine

Fitch has lowered its outlook on China’s sovereign rating to “negative,” citing economic uncertainty. What does this mean for investors, and what’s the likelihood of an actual ratings downgrade? And China has ordered all hotels rated three stars or higher to accept foreign credit cards. Will this help to bring back foreign travelers after three years of Covid isolation?

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About China Inc

China Inc by Bamboo Works discusses the latest developments on Chinese companies listed in Hong Kong and the United States to drive informed decision-making for investors and others interested in this dynamic group of companies.

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Yongda Auto raises funds in Hongxin tie-up

Auto sales company China Yongda Automobiles Services Holdings Ltd. (3669.HK) announced Wednesday that it will sell 73.16 million new shares to Hongxin International Shipping for HK$0.825 each. The sale will…