China's stable outlook reflects its view that China will maintain above-average headline GDP growth.

Expect China's real GDP per capita growth to remain above 5% annually in the next three years.

China's stable outlook also reflects its view that China will see improved fiscal performance over the next three to four years.

The Chinese economy is also likely to face elevated uncertainties owing to US-China tensions.

May raise its ratings on China if credit growth slows further and is sustained below nominal income growth.

China's economic growth is likely to slow further in the next few years.