Fitch ratings have affirmed China’s Long Term Foreign-Currency Issuer Default Rating (IDR) at A+ with a Stable Outlook!
Some key points that I thought is worth sharing here:
1. The rating was in tandem with robust external finances, a track record of strong macroeconomic performance + its size as the world’s second largest economy.
2. The Superpower from the East is seen to show a remarkable economic recovery with real GDP rising by 3.2%, year on year (Q2 2020) – above Fitch’s expectations.
3. It is also up from a 6.8% contraction in 1Q 2020.
It is also worth mentioning that Fitch is forecasting a real GDP growth of 2.7% in 2020 – among its highest across Fitch rated sovereigns this year.
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