China finance ministry on Thursday said China "deeply" regrets and does not recognise Fitch downgrading China's long-term foreign currency rating to "A" from "A+".

In a statement, the ministry said the decision "is biased and cannot fully and objectively reflect the actual situation in China".

In April 2024, Fitch had cut its outlook on China's sovereign credit rating to negative, citing risks to public finances as the economy faces increasing uncertainty in its shift to new growth models.

(Reporting by Beijing Newsroom; Editing by Alison Williams)