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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Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
