S&P Global Ratings confirmed the ratings of China at A+/A-1 with a consistent macroeconomic outlook, indicating the economy is likely to sustain above-average economic growth compared to emerging middle-income economies over a few years.
The effective containment of the COVID-19 pandemic and successful vaccine rollout in China gave S&P confidence in China’s economic growth.
In 2020, the COVID-19 pandemic led to a decline in the global economies. The effectiveness of the vaccination campaign is an essential step in the recovery of the economies.
In 2021, the real GDP growth of China’s economy will be at 8.3% and around 5% from 2022-2024.
CSI 300 Index gains +1.63%
Source: Reuters.
