BEIJING, Aug. 28 (Xinhua) -- China's Ministry of Finance on Friday said that S&P Global Ratings' latest report maintaining an "A+" rating on China with a stable outlook showed the agency's recognition of the country's macroeconomic resilience.
China welcomes S&P Global Ratings' decision on Friday to affirm China's sovereign credit rating at "A+" with a stable outlook, said an official with the ministry when commenting on the rating, adding that the result also affirms the soundness of the country's fiscal operation and the effectiveness of its risk prevention and control measures.
The ministry noted that in the first half of the year (H1), China's economy maintained overall stable operation, with the industrial structure steadily optimizing, domestic demand potential being continuously unleashed, support in key areas remaining robust, and new growth drivers increasingly playing a major role.
The Chinese economy, the official said, has achieved a tangible improvement in quality and a reasonable increase in quantity.
China's gross domestic product grew 4.7 percent year on year in H1, underscoring the resilience of the world's second-largest economy.
In the second half of the year, the Chinese government will continue to implement more proactive and effective macro policies, step up the implementation of a package of fiscal and financial measures to boost domestic demand, and make policies more forward-looking, targeted and coordinated.
Overall, China's economy enjoys a stable foundation, multiple advantages, strong resilience and enormous potential, with sound economic fundamentals unchanged in the long run, the official said, adding that the country has the confidence to continue to gain recognition in the international market. Enditem
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