By Luo Shanshan, People’s Daily
On Aug. 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 capacity for risk management. More importantly, it signals sustained global confidence in China’s pursuit of high-quality development.
The rating itself is significant, but the message behind it carries even greater weight: a stable Chinese economy benefits not only China but also reinforces global industrial and supply chains, injecting a much-needed sense of certainty in an otherwise turbulent world.
The A+ rating is grounded in the confidence surrounding China’s steady economic development as it enters the first year of the 15th Five-Year Plan period (2026–2030).
Since the beginning of this year, the country has faced a series of overlapping challenges—geopolitical tensions, extreme weather events, and other domestic and external pressures. Despite these overlapping pressures, China’s economy has remained stable while continuing to improve 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 figures underscore the strong resilience and ample policy space of a super large economy.
As the 15th Five-Year Plan gets off to a strong start, 109 major projects are progressing at full speed, translating national strategies into tangible drivers of growth and unleashing industrial vitality.
A series of national development plans have also been launched, covering areas including urban renewal, consumption expansion, education, public health, and the development of a new energy system.
With clearer development direction and more defined pathways, both domestic businesses and overseas investors can move forward with greater confidence.
The A+ rating benefits not only China but the world at large. China continues to expand imports, keeping its markets open to global goods and services while creating substantial new opportunities for businesses abroad.
High-standard opening-up is advancing steadily, alongside high-quality Belt and Road cooperation. China’s comprehensive manufacturing system also helps ensure stable supplies of key products amid fluctuations in global demand and supply.
By broadening common interests, China is leveraging its own growth to provide stronger support for the global economy.
As the blueprint for the 15th Five-Year Plan unfolds, the dividends of reform, innovation and opening-up will continue to emerge.
By steadily pursuing high-quality development, China will not only maintain sound and sustainable economic growth at home but also continue to offer the global economy a valuable source of stability — ensuring that the opportunities created by its development are shared by more countries and peoples.