Travel and consumption patterns during the Chinese New Year holiday week highlight a demand shift towards service-oriented sectors in China, says Fitch Ratings. Bright spots in some consumer sectors have driven a few positive rating actions among corporates in recent months but the overall economic environment remains challenging, and the proportion of ratings on Negative Outlook or Rating Watch Negative still outweighs their positive equivalents. In February, Fitch Ratings undertook more positive rating actions on Chinese issuers in the International Public Finance portfolio, driven by reassessments of several local ... (full story)