Fitch downgrades outlook on China to negative, affirms ‘A+’ rating

(Reuters) – Ratings agency Fitch revised its outlook on China to negative on Tuesday, citing increasing risks to the country’s public finance outlook.

Fitch forecast the general government deficit would rise to 7.1% of GDP in 2024 from 5.8% in 2023.

Fitch affirmed China’s IDR rating at ‘A+’.

(Reporting by Akanksha Khushi in Bengaluru; Editing by Kim Coghill)