China's rating not jeopardized by slower growth
Updated: 2013-05-08 10:06
(Xinhua)
|
|||||||||
BEIJING - China's Aa3 sovereign bond ratings are supported by its economic and financial strength, which have not been jeopardized by the country's new era of slower growth, Moody's said on Tuesday.
The rating agency's outlook for the country's credit rating is stable.
China's economic growth ticked down to 7.7 percent in the first quarter, falling short of market expectations and suggested a continued tepid economic rebound for the world's second-largest economy.
"We see China's growth moderating further, but will remain well above global average over a five-year horizon, if not longer," Moody's said in its annual report.
After years of economic expansion at double-digit rates, China is believed to have entered a "new norm" of slower growth.
Moody's predicted China's GDP will grow 8 percent this year and 7.5 percent in 2014.
But the agency considered that the Chinese government's financial strength remained very high.
"Underpinning China's credit fundamental is continued robust economic growth against a backdrop of low inflation," Moody's said.
China's strong government's finances are reflected in its small budget deficits, moderate gross financing requirements, and a moderate on-budget debt burden slightly under 30 percent of GDP.
- Michelle lays roses at site along Berlin Wall
- Historic space lecture in Tiangong-1 commences
- 'Sopranos' Star James Gandolfini dead at 51
- UN: Number of refugees hits 18-year high
- Slide: Jet exercises from aircraft carrier
- Talks establish fishery hotline
- Foreign buyers eye Chinese drones
- UN chief hails China's peacekeepers
Most Viewed
Editor's Picks
Pumping up power of consumption |
From China with love and care |
From the classroom to the boardroom |
Schools open overseas campus |
Domestic power of new energy |
Clearing the air |
Today's Top News
Shenzhou X astronaut gives lecture today
US told to reassess duties on Chinese paper
Chinese seek greater share of satellite market
Russia rejects Obama's nuke cut proposal
US immigration bill sees Senate breakthrough
Brazilian cities revoke fare hikes
Moody's warns on China's local govt debt
Air quality in major cities drops in May
US Weekly
Geared to go |
The place to be |