In a reaffirmation of its robust economic health, China's Hong Kong Special Administrative Region (HKSAR) has drawn praise from major credit rating agencies including Fitch, S&P, and Moody’s. These agencies have affirmed a "stable" outlook for HKSAR, citing substantial fiscal buffers, strong foreign exchange reserves, a solid external balance sheet, and high per capita income levels. 📈
Notably, S&P and Moody’s have maintained their AA+ and Aa3 ratings respectively, while Moody’s upgraded its outlook from "negative" to "stable." This move is seen as a clear vote of confidence in HKSAR's position as a key international financial center.
Lin Jian, a spokesperson for the Chinese Foreign Ministry, emphasized, "This is a vote of confidence in Hong Kong's status as an international financial hub." He added that China's steady drive for high-quality development further fuels opportunities and momentum for HKSAR's growth. 🚀
Echoing this sentiment, financial secretary Paul Chan Mo-po shared on social media that the stable outlook reflects the resilience and strength of Hong Kong's financial system amid global uncertainties. 🔥
With robust policies and a favorable economic landscape, HKSAR continues to shine as a beacon for international investment and remains poised to thrive in an ever-changing global market.
Reference(s):
HKSAR's credit ratings demonstrate its economic resilience: MOFA
cgtn.com
