HKSAR's Credit Ratings Highlight Economic Resilience, Says MOFA

The economic stability and resilience of China's Hong Kong Special Administrative Region (HKSAR) have been underscored by the latest affirmations from leading international credit rating agencies. Fitch, S&P, and Moody's have all maintained a "stable" rating outlook for Hong Kong, with S&P and Moody's retaining their high AA+ and Aa3 ratings respectively. These assessments come at a time of heightened uncertainties in the global economy, reflecting continued confidence in Hong Kong's fiscal and financial fundamentals.

Both S&P and Moody's highlighted several key strengths underpinning their decisions: substantial fiscal buffers, robust foreign exchange reserves, a strong external balance sheet, and high per capita income levels. These elements have played a crucial role in shielding Hong Kong from volatility and enabling it to weather ongoing challenges in global trade and finance. Particularly significant was Moody's move to upgrade its outlook for Hong Kong from "negative" to "stable", citing the region's resilient credit profile despite the persistence of international trade tensions and subdued global trade growth.

Chinese Foreign Ministry spokesperson Lin Jian praised these credit rating affirmations, describing them as "a vote of confidence in Hong Kong's status as an international financial center." He emphasized that Hong Kong continues to benefit from the broader momentum of China's steady pursuit of high-quality development. According to Lin, this trajectory not only sustains Hong Kong’s growth prospects but also opens new avenues for opportunity and international collaboration. “We are confident about Hong Kong's development prospects and welcome enterprises from all countries to invest in Hong Kong, work together for mutual development and share in its prosperity,” Lin stated.

Echoing this sentiment, Financial Secretary Paul Chan Mo-po pointed out that the stable outlooks from the world's three leading credit rating agencies serve as a testament to the enduring strength and resilience of Hong Kong’s economic and financial system. In remarks shared on social media earlier this week, Chan stressed that Hong Kong remains a magnet for global investment, with recent achievements indicating international capital’s sustained confidence and optimism for the city. He expressed his belief that Hong Kong’s financial markets will continue to flourish, reinforcing its position as a strategic hub for regional and international business.