Fitch affirms China at A+; outlook stable

In its latest credit review report on the Chinese economy, the US-based ratings agency, Fitch ratings, affirmed China sovereign credit rating at ‘A+’, with outlook maintained at ‘stable’.

Key Points from the report (via Reuters):

Fitch affirms China at 'A+'; outlook stable

Issue ratings on China's senior unsecured foreign- and local-currency bonds are also affirmed at 'A+'

Country ceiling is affirmed at 'A+'. short-term foreign- and local-currency IDRS have been affirmed at 'F1+'

China's robust external finances and strong macroeconomic track record continue to support sovereign rating at its current level of 'A+'

China's recent economic growth trajectory accompanied by build-up of imbalances, vulnerabilities that poses risks to its basic economic, financial stability

In agency's assessment, vulnerabilities will rise over our 2016-18 forecast horizon

Views public finances as a neutral factor in China's sovereign rating profile

Forecasts gross general government debt will rise to 52.4% of GDP at end-2016

Macroeconomic performance remains a rating strength despite gradual slowdown in growth

Forecasts real GDP growth of 6.4% in 2017, down from projected 6.7% in 2016, on impact of recent macro-prudential tightening measures targeting housing market