Shang Fulin, chairman of the China Banking Regulatory Commission says that Moody's decision to downgrade ratings for Chinese sovereign and bank debt is a misjudgment to the economic situation in China.

His view is generally shared by various governmental departments in China.

China’s official criticism over Moody’s is, however, not substantiated. ANBOUND’s scholars are of the view that Moody’s problem lie with its rating research methodology which has failed to make a horizontal comparison in their study, resulting in a relatively higher rating on the developed countries in the west.

For example, despite the fact that their economic growths were close to nil, Japan’s sovereign debt rating was A1 while France was rated as AA.

If China questions the credibility of the rating agency in this way, it will be more effective than merely claiming that the rating agency has committed "misjudgment".