Fitch affirms China at 'A+'; outlook Stable
|In its latest report, Fitch Ratings affirmed China’s long-term foreign-currency issuer default rating (IDR) at 'a+' with a Stable outlook.
Additional takeaways
“Chinese economy has entered a mature stage in its pandemic recovery.”
“Estimate China’s general government debt-to-GDP ratio will rise to about 55% this year. “
“Forecasts China’s GDP growth of 8.4% in 2021 (2020: 2.3%) and 5.5% in 2022.”
“Forecast fiscal deficit will moderate to 7.4% this year, from 8.9% in 2020. “
“Expect growth impact to be limited because of China’s domestic market, success in curbing outbreaks without generating economic disruptions.
“Tensions between China, a number of major economies have not had a material impact on the extensiveness of global business interests operating in China.”
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