Standard & Poor's affirms its AA- sovereign rating for China

Market news

23 November 2015

Standard & Poor's affirms its AA- sovereign rating for China

Standard & Poor's Ratings Services affirmed its AA- sovereign rating for China on Monday. The outlook remained stable.

The agency said that China will make a significant progress toward economic rebalancing in the next two years. According to S&P, China's economy should be driven by consumer spending and not by investments. The agency noted that there is progress in reforming the financial sector.

Upgrades and downgrades before the market open

Foreign exchange market. European session: the euro traded mixed against the U.S. dollar on the better-than-expected economic data from the Eurozone

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