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OverviewAPI
China's consumer prices fell at a record rate, indicating rising deflationary pressures, with a 0.5% year-on-year decline. The producer price index also fell 3.0% year-on-year, marking the 14th consecutive month of decline. Moody's downgraded China's credit rating, citing concerns about the economy's rebound and the risk of controllable costs. The authorities are expected to spur domestic demand and enhance economic recovery in 2024.

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