China's finance ministry welcomes S&P credit rating

China's Ministry of Finance has welcomed S&P Global Ratings' decision to uphold China's sovereign credit rating at A+ with a stable outlook, citing the assessment as a credible recognition of the country's solid economic fundamentals and robust fiscal governance.

In a statement, the ministry said the assessment fully validates China's macroeconomic resilience, prudent fiscal operations, and sound risk control capabilities, underscoring global investors' optimism over the country's high-quality growth trajectory. 

"China's economy posted stable performance in the first half of the year, underpinned by rising resilience. It has notched both qualitative upgrades and reasonable quantitative expansion, with continued optimization of industry structure, steady release of domestic demand potential, strong safeguards for key economic sectors, and rise of new growth momentum, " the statement read, adding that the International Monetary Fund's recent upgrade of its 2026 China growth projection to 4.6  percent once again reflected global optimism over China's economic prospects.

"Looking ahead to the second half, we will adopt more proactive and effective macroeconomic policies, scaling up coordinated fiscal and financial measures to bolster domestic demand, while improving policy foresight, accuracy and synergy to maximize the effects of the policy mix," the statement read.

China also aims to expand domestic demand and deepen supply-side structural reform, accelerate the development of new quality productive forces, and effectively ensure and improve people's well-being. These measures together aim to support the delivery of economic and social development goals this year and build a strong foundation for a promising start to the 15th Five-Year Plan period (2026-30), the statement added.

The ministry stressed that the Chinese economy has solid foundations, unique strengths, strong resilience and enormous potential, while its sound long-term fundamentals remain unchanged.

"The country is fully capable of sustaining stable and sound development, maintaining robust and reliable sovereign credit, and securing continuous positive recognition from international markets," the statement read.