Standard & Poor's Ratings Services affirmed its 'AA-' long-term and 'A-1+' short-term sovereign credit ratings on the People's Republic of China, as it is said in the message of the agency. The outlook on the long-term ratings remains stable, Prime reports.
The ratings on China reflect the agency’s view of the government's reform agenda as well as the country's growth prospects. “We weigh these strengths against certain credit factors that are weaker than what is typical in similarly rated peers, such as China's lower average income, lesser transparency, and more restricted flow of information”, Standard & Poor’s reports.
The agency notes that the Chinese government is taking steps to bolster its economic and fiscal resilience, and considers that authorities have implemented significant reforming in this sphere. “Most importantly, we view the government's anti-corruption campaign as a significant step to improve governance at state agencies and state-owned enterprises (SOEs)”, the agency adds.
Standard & Poor’s expects China's economic growth to remain strong at 6% or more annually through at least 2018, corresponding to 5.5% per capita real GDP growth.
