China's A+ Credit Rating Signals Global Confidence and Stability
S&P Global Ratings' decision to affirm China's A+ sovereign credit rating highlights sustained economic resilience and provides vital stability to global supply chains.
Par Luo Shanshan, People's Daily
On August 28, S&P Global Ratings affirmed China's sovereign credit rating at A+ with a stable outlook.
The decision reflects an objective assessment of China's economic resilience, fiscal strength, and risk management capacity. Crucially, it signals sustained global confidence in the country's pursuit of high-quality development.
While the rating itself is significant, its underlying message carries even greater weight: a stable Chinese economy not only benefits domestic growth but also reinforces global industrial and supply chains, injecting much-needed certainty into a turbulent world.
The A+ rating is grounded in confidence regarding China's steady economic trajectory as it enters the initial phase of the 15th Five-Year Plan period (2026–2030).
Throughout the year, the nation has confronted a series of overlapping challenges—including geopolitical tensions, extreme weather events, and various domestic and external pressures. Despite these hurdles, the economy has remained stable while steadily improving in both quality and efficiency.
From January to July, the value-added of industrial enterprises above the designated size grew by 5.3 percent year-on-year. The services production index rose by 4.7 percent, and total foreign trade in goods exceeded 30 trillion yuan ($4.46 trillion). These indicators underscore the resilience and ample policy space of a massive economy.
As the 15th Five-Year Plan gets off to a robust start, 109 major projects are advancing at full speed, translating national strategies into tangible growth drivers and unleashing industrial vitality.
A series of national development plans have also been launched, spanning urban renewal, consumption expansion, education, public health, and the development of new energy systems.
With a clearer development direction and defined pathways, both domestic enterprises and overseas investors can navigate the future with heightened confidence.
The A+ rating extends its impact beyond China's borders. By continually expanding imports and keeping markets open, the country provides substantial new opportunities for international businesses.
High-standard opening-up is advancing steadily alongside high-quality Belt and Road cooperation. Furthermore, China's comprehensive manufacturing ecosystem helps ensure stable supplies of key products amid fluctuating global demand.
By broadening common interests, China is leveraging its domestic growth to bolster the wider global economy.
As the blueprint of the 15th Five-Year Plan unfolds, the dividends of reform, innovation, and opening-up will continue to materialize.
Through the steady pursuit of high-quality development, China will sustain sound economic growth at home while remaining a vital source of global stability—ensuring that its developmental opportunities are shared worldwide.
