S&P Global Ratings affirmed the sovereign ratings of China with 'stable' outlook, on Friday.
The 'A+' credit rating reflects S&P's assessment of the government's reform agenda, growth prospects, and strong external metrics.
S&P observed that policy changes have helped to rein in credit growth and reduce the reliance of economic growth on public investment. If these trends continue, risks to Chinese economic and financial stability could moderate.
Nonetheless, the agency observed that the track record of slower credit expansion is still very short. New credit to both government and non-government sectors remains high and could accelerate if economic growth slows further.
The stable outlook suggests that China will maintain its robust headline GDP growth and improved fiscal performance in the next three to four years.
China's economic growth is expected to remain strong at close to 6 percent or more annually through at least to 2020, corresponding to per capita real GDP growth of above 5 percent each year.
The material has been provided by InstaForex Company -
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