S&P Global Ratings' affirmation of China outlook reflects recognition of country's economic resilience

Magnolia blossoms are pictured in Lujiazui, east China's Shanghai, March 18, 2025. (Xinhua/Wang Xiang)

BEIJING, Aug. 7 (Xinhua) -- China's Ministry of Finance on Thursday said that S&P Global Ratings' latest report affirming a positive rating and stable outlook on China showed the rating agency's recognition of the country's economic resilience and prospects.

S&P Global Ratings on Thursday maintained an "A+" rating and "stable" outlook for China's sovereign credit.

Commenting on the rating agency's decision, the ministry said in a statement that the report shows high recognition of the resilience of China's economic growth and the effectiveness of its debt management, reflecting the agency's confidence in its positive outlook on China's economy.

In the first half of 2025, major indicators of China's economy performed better than expected, and the economy demonstrated strong vitality and resilience as the Chinese government responded proactively to the rapidly changing external environment by implementing a series of coordinated policies, according to an official of the ministry.

In the second half of the year, China will strive to achieve its annual economic and social development goals by continuing to strengthen macro policies, and it will intensify them at an appropriate time while maintaining policy continuity and stability.

From a long-term perspective, China's economy boasts a solid foundation, multiple advantages, strong resilience and huge potential, the official said, adding that China's stable economic growth will continue to contribute to the development of the world economy.