Chinadaily.com.cn
     
    Go Adv Search

    Fitch reaffirms China's foreign currency rating at A+

    Updated: 2012-04-12 10:36

    (Xinhua)

      Comments() Print Mail Large Medium  Small 分享按鈕 0

    LONDON - Rating agency Fitch reaffirmed China's foreign currency rating at A+ with a stable outlook on Wednesday.

    "Fitch expects more debt to migrate onto China's sovereign balance sheet as the economy works through the aftermath of the credit surge of 2009-2011, primarily impacting the local currency rating, which remains on negative outlook," Andrew Colquhoun, head of Asia-Pacific Sovereigns at Fitch, said.

    "The ratings balance China's strong narrowly-defined sovereign finances against broader contingent liabilities and structural weaknesses including unresolved problems in the banking system," he added.

    According to the agency, China's key rating strength is its strong on-balance-sheet public finances. China's sovereign net foreign asset position at end-2011 was worth 44 percent of GDP, the second-strongest in the A range, underpinned by the world's highest reserves stockpile of $3.2 trillion.

    Explicit sovereign debt remains modest, however. Central government debt was only 17.5 percent of GDP at end-2011, while fiscal deposits were worth 5.5 percent of GDP. Fiscal deposits exceed sovereign debt maturities which are projected to be about 2 percent of GDP this year.

    The total amount of credit in China's economy rose rapidly amid credit-fuelled stimulus and its aftermath in 2009-2011. Banking system assets rose to 238 percent of GDP by end-2011, from 204 percent at end-2008.

    In a statement, Fitch said it had concerns that the banking system will face rising loan impairments over the medium term following this credit surge. This could impact the supply of credit to the broader economy, affecting growth, or lead to a requirement for sovereign financial support to the system, the agency said.

    China's ratings benefit from a record of strong economic growth stretching back to 1991. However, the outlook for 2012 is more moderate. Fitch projects China's GDP growth at 8 percent in 2012 and 2013, below the 2007-2011 average of 10.5 percent, as the economy works off excesses in the real estate sector and policy is gradually eased to keep a lid on inflation and house prices.

    "The unwinding property market poses some risk of a so-called hard landing, although Fitch believes the authorities' scope for policy flexibility inclines against such a negative outcome," said Colquhoun.

    狠狠躁天天躁无码中文字幕 | 日韩人妻无码精品无码中文字幕| 国产在线精品一区二区中文| 久久久久久亚洲AV无码专区| 伊人热人久久中文字幕| 成人无码小视频在线观看| 亚洲AV无码成人精品区蜜桃 | 精品久久久久久无码中文字幕一区 | 一级片无码中文字幕乱伦| 亚洲AV永久无码一区二区三区| 无码aⅴ精品一区二区三区浪潮| 中文字幕日韩人妻不卡一区| A狠狠久久蜜臀婷色中文网| 亚洲AV无码乱码在线观看性色扶| 国产精品无码一区二区三级 | 亚洲午夜国产精品无码老牛影视| 无码中文字幕av免费放dvd| 亚洲AV无码一区二区三区国产 | 精选观看中文字幕高清无码| 日韩精品久久无码人妻中文字幕| 亚洲一区二区三区AV无码 | 免费A级毛片无码A∨| 亚洲日韩精品一区二区三区无码| 特级做A爰片毛片免费看无码| 99久久无码一区人妻| 精品深夜AV无码一区二区| 无码国产色欲XXXXX视频| 在线精品无码字幕无码AV| 直接看的成人无码视频网站| 日韩精品一区二三区中文| 日韩视频中文字幕精品偷拍| 亚洲欧美在线一区中文字幕| 亚洲欧美成人久久综合中文网 | 无码人妻精品一区二区三区久久久| 狠狠精品久久久无码中文字幕| 无码精品尤物一区二区三区| AV无码久久久久不卡蜜桃| 亚洲AV无码乱码国产麻豆穿越| 日韩人妻无码一区二区三区久久| 久久精品aⅴ无码中文字字幕不卡 久久精品aⅴ无码中文字字幕重口 | 久久精品无码一区二区三区|