FOREX TradingCharts.com

Financial News: Fitch Retains China's Sovereign Ratings At 'A+'

Fitch Retains China's Sovereign Ratings At 'A+'

07/28/2020 - 03:14:00 (RTTNews)

(RTTNews) - Fitch Ratings maintained the sovereign ratings of China as the economy logged a remarkable recovery from the downturn posed by the coronavirus pandemic.

The rating agency retained the credit ratings at 'A+' with a 'stable' outlook.

Fitch said the ratings were underpinned by strong external finances, a track record of strong macroeconomic performance, and size as the world's second-largest economy.

Nonetheless, the agency cited large structural vulnerabilities in the financial sector, relatively low per capita income, and weaker governance metrics than those of 'A' peers as major rating constraints.

Fitch observed that China's economy is staging a remarkable recovery from the downturn caused by the coronavirus pandemic. According to Fitch, real GDP will grow 2.7 percent this year instead of previously estimated 1.2 percent. The annual growth is expected to accelerate temporarily to 7.5 percent in 2021 before returning to the trend rate of 5.5 percent in 2022.

On a Fitch consolidated basis, the agency estimated the general government deficit will rise to 11.1 percent of GDP this year, up significantly from 4.9 percent in 2019, though not dissimilar to the scale of fiscal deterioration globally this year.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


UK Economy To Grow 15% In Q3: NIESR (02 hr(s), 20 min(s), 20 sec(s) ago)
(RTTNews) - The UK economy is set to expand 15 percent in the third quarter after a record contrac ...Full Story»

U.S. Consumer Price Growth Exceeds Estimates In July (05 hr(s), 23 min(s), 20 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. increased by more than anticipated in the month of July, a ...Full Story»

U.S. Consumer Prices Climb More Than Expected In July (06 hr(s), 0 min(s),20 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. increased by more than anticipated in the month of July, a ...Full Story»

Sweden Inflation Eases In July (06 hr(s), 35 min(s), 20 sec(s) ago)
(RTTNews) - Sweden's consumer prices inflation eased in July, data from Statistics Sweden show ...Full Story»

Italy Consumer Prices Fall More Than Estimated (06 hr(s), 44 min(s), 20 sec(s) ago)
(RTTNews) - Italy's consumer prices fell more than estimated in July, final data from the stat ...Full Story»

Portugal Consumer Prices Rise Less Than Estimated (06 hr(s), 48 min(s), 20 sec(s) ago)
(RTTNews) - Portugal's consumer prices rose less than estimated in July, preliminary data from ...Full Story»

South Africa Retail Sales Decline Slows Sharply In June (06 hr(s), 50 min(s), 20 sec(s) ago)
(RTTNews) - South Africa's retail sales decreased for the third month in a row in June, though ...Full Story»

UK Economy Logs Biggest Contraction Since 1955 (07 hr(s), 34 min(s), 20 sec(s) ago)
(RTTNews) - The UK economy contracted at the fastest pace on record in the second quarter amid the ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

UK Economy To Grow 15% In Q3: NIESR

08/12/2020 - 12:17 PM (RTTNews)
(RTTNews) - The UK economy is set to expand 15 percent in the third quarter after a record contrac ...Full Story>>

U.S. Consumer Price Growth Exceeds Estimates In July

08/12/2020 - 09:14 AM (RTTNews)
(RTTNews) - Consumer prices in the U.S. increased by more than anticipated in the month of July, a ...Full Story>>

U.S. Consumer Prices Climb More Than Expected In July

08/12/2020 - 08:37 AM (RTTNews)
(RTTNews) - Consumer prices in the U.S. increased by more than anticipated in the month of July, a ...Full Story>>

Sweden Inflation Eases In July

08/12/2020 - 08:02 AM (RTTNews)
(RTTNews) - Sweden's consumer prices inflation eased in July, data from Statistics Sweden show ...Full Story>>

Italy Consumer Prices Fall More Than Estimated

08/12/2020 - 07:53 AM (RTTNews)
(RTTNews) - Italy's consumer prices fell more than estimated in July, final data from the stat ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.