On April 27, 2026, Moody’s Ratings revised China’s sovereign credit rating outlook to “stable” from “negative,” while affirming its long-term rating at “A1.” The agency cited its expectation that China’s economic and fiscal fundamentals will remain resilient despite domestic headwinds, as well as trade and geopolitical challenges.
Moody’s noted that export growth is likely to moderate, but emphasized that the competitiveness and adaptability of Chinese exports should help ensure that any deceleration in GDP growth remains gradual over the medium term. The agency also pointed to a policy emphasis on channeling investment into high-productivity sectors and addressing supply imbalances, with the aim of improving overall capital efficiency.
In addition, Moody’s anticipates that authorities will continue to manage regional and local government debt in a controlled manner, even as total debt levels rise due to ongoing policy support.
Among other major rating agencies, Standard & Poor’s currently assigns China a sovereign credit rating of “A+” with a stable outlook, while DBRS maintains an “A” rating on China, also with a stable outlook.
