S&P affirms China’s top rating at A+ despite trade tensions with Washington

File photo © Reuters / Brendan McDermid

The New York-based rating agency S&P Global has affirmed the ‘A+/A-1’ credit rating on China, predicting that the country will maintain above-average gross domestic product (GDP) growth and improved fiscal performance.

“On September 30, 2019, S&P Global Ratings affirmed its unsolicited ‘A+’ long-term and ‘A-1’ short-term sovereign credit ratings on China. The outlook on the long-term ratings is stable,” the firm stated on its website.According to S&P, China will “maintain above-average headline GDP” with per capita growth forecast to stay above 5% annually.  The agency also sees improved fiscal performance within the country over the next three to four years, as well as a decline in fiscal deficits.

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