Experts say China's financial position robust

Concerns about China's financial stability are somewhat exaggerated and there is no need to read too much into a single agency's revised view of the economy, a number of leading credit rating experts said on Friday.

Their rebuttal came in response to Moody's downgrade on Wednesday of China's sovereign rating by one notch to A1. Moody's said it expects the financial strength of the world's second-largest economy to weaken in coming years, as growth slows and debt continues to mount.

Moody's cut to China's sovereign credit rating for the first time in nearly three decades is largely seen as symbolic and could definitely not be regarded as the sole criterion for investors to make decisions, said Huo Zhihui, deputy head of China Credit Rating Co.