S&P affirms China, pointed out the risks of coronavirus, trade tension
(Reuters) – the International rating Agency S&P Global Ratings affirmed the sovereign credit rating of China at the level of “A+/A-1” with a stable Outlook, on the background of the coronavirus.
The S&P estimates that China is likely to keep economic growth above average in comparison with other countries with middle income in the next few years.
However, the Agency believes that the growth is likely to be under pressure because of the outbreak of coronavirus, efforts to restructure the Chinese economy and tensions between the US and China.
The Agency does not wait for the normalization of us-Chinese relations in the near future.
“We expect that in the years 2021-2023 real GDP growth per capita is expected to average 5.5% per year, as the economy is recovering from the shock COVID-19” – said S&P on Monday.
(Kanishka Singh in Bangalore. Translated By Olga Vishnevskaya. Editor Dmitry Antonov)