Sovereign credit rating is the credit rating agencies on a country’s central government as a debtor wishes to assess the ability and performance of debt obligations. The two agencies lowered the rating outlook is mainly based on the operation of financial risk concerns. Reports can be found in the two institutions, financial markets in order to eliminate the information asymmetry responsibility of the credit rating, but there is information asymmetry itself. Some industry insiders believe, two rating agencies failed to adjust accurately grasp the fundamentals and the development trend of China’s economy, but also does not reflect the latest progress of structural adjustment and industrial upgrading as well as fiscal and financial sector reform.
China is the world’s second largest economy. On the overall economic situation, in the complex and challenging international environment, China’s steady economic and social development there is a carry, steady for the better, the economy is maintained at a reasonable interval, structural adjustment made positive progress in the development of new momentum to accelerate growth. By 2015, China’s GDP growth of 6.9%, the highest in the forefront of the world’s major economies. Although the world economy depth adjustment, recovery is weak, but the toughness of our economy, the potential of the foot, a large room for maneuver has become increasingly prominent features. Currently we focus on strengthening the supply-side structural reforms to enhance sustained development momentum. With the implementation of a series of reform measures, the economic operation to the good trend will become more pronounced.
In fact, with the evaluation of two utterly different institutions, a series of economic data released recently show that this year China’s economy to achieve a good start, showing a good trend stabilized. For example, the March manufacturing PMI was 50.2%, above the line for the first time back to the ups and downs since last August; from January to February, the industrial enterprises above designated size gross profit increased by 4.8% in 2015 to change the full-year profit decline situation; from January to February, the national general public budget revenue grew 6.3%, higher than last year’s revenue growth.