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Fitch affirms China at ‘A+’, outlook Stable

Ratings agency Fitch affirms China at ‘A+’ and maintains A stable outlook. The country’s ceiling is affirmed at ‘A+’. The official aggregate financing (excluding equity) is seen rising to 208% of GDP in 2017, from 201% in 2016 and 114% in 2008.


Fitch says the increase in economy’s overall leverage in context of adherence to ambitious GDP growth raises potential for economic and financial shocks


Key points


Tighter monetary conditions may lead to slower GDP growth, which in Fitch's baseline forecast will decelerate to 5.9% in 2018, from 6.5% in 2017


China's ratings are underpinned by the strength of its external finances and macroeconomic track record


Potential remains for capital outflow pressures to resume, especially in context of a strengthening US dollar

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