Reuters reports that S&P Global Ratings said that it affirmed China's ratings at A+/A-1 with a stable outlook.

"China was likely to maintain above-average economic growth relative to other middle-income economies in the next few years. This is in part due to its effective containment of the COVID-19 pandemic and rapid vaccine rollout," S&P said. 

"We expect real GDP growth to come in at 8.3% this year, before moderating to about 5% from 2022-2024," S&P added