Financial News
Written by: Wen Zongzong
2019-11-20 10:50
Last updated date: 2019-11-20 10:50The rating agency Fitch announced that it has confirmed that China's credit rating is "A+" and the rating outlook remains "stable", but China's full-year GDP growth is expected to slow down to 5.7% next year, compared with 6.1% for the full year.
Calling China’s monetary policy
Fitch issued a rating report confirming that China's long-term foreign currency issuer default rating is “A+”, mainly due to China's strong external capital and macroeconomic performance, and its size as the world's second largest economy. The report said that although the mainland has relaxed macroeconomic policies in the middle of this year to cope with the negative impact of the trade war and the "de-leverage" of the early years, the central government still exercised restraint in adopting credit stimulus policies, which is consistent with the current "A+" rating.
Fitch pointed out that in its standard forecast scenario, the United States will impose a 15% tariff on China's total import value of US$150 billion as scheduled in December, but with the recent Sino-US trade relations picking up, if the US side has some tariffs The measures can be postponed or cancelled, which will be more favorable to China's sovereign rating.
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Fitch Ratings Agency China Economy