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.”