ข่าวประชาสัมพันธ์การเงิน/หลักทรัพย์

People’s Republic Of China Rating Affirmed At ‘A+/A-1’; Outlook Stable

          RATING ACTION 
          On Sept. 21, 2018, S&P Global Ratings affirmed its unsolicited 'A+' long-term and 'A-1' short-term sovereign credit ratings on the People's Republic of China. The outlook is stable.
 
          OUTLOOK 
          The stable outlook reflects our view that China will maintain its robust headline GDP growth and improved fiscal performance in the next three to four years. We expect per capita real GDP growth to stay above 5% annually, even as public investment growth slows further. In addition, we anticipate the stricter implementation of restrictions on subnational government off-budget borrowing to lead to a declining trend in the fiscal deficits, as measured by changes in general government debt in terms of GDP. 
          We may raise our ratings on China if credit growth slows significantly and is sustained well below the current rates while real GDP growth remains healthy. In this scenario, we believe risks to financial stability and medium-term growth prospects will lessen. 
          A downgrade could ensue if we see a higher likelihood that China will ease its efforts to stem rising financial risk and allow higher credit growth to support economic expansion in a manner that is unsustainable in the longer term. We expect such a trend would weaken the Chinese economy's resilience to shocks, limit the government's policy options, and increase the likelihood of a sharper decline in the trend growth rate.