International credit rating agencies have reaffirmed the Hong Kong Special Administrative Region’s (HKSAR) strong economic standing, highlighting the region’s resilience amid global economic uncertainties.
Recently, Fitch, S&P Global Ratings, and Moody’s Investors Service all maintained their credit ratings for Hong Kong, with S&P and Moody’s assigning stable outlooks of AA+ and Aa3 respectively. These ratings reflect Hong Kong’s substantial fiscal reserves, robust foreign exchange reserves, strong external balance sheet, and high per capita income.
Moody’s notably upgraded its outlook for Hong Kong from “negative” to “stable”, citing the region’s resilient credit profile in the face of global trade tensions and slowing trade growth.
A spokesperson for the Chinese Foreign Ministry, Lin Jian, commented on the affirmations, stating, “This is a vote of confidence in Hong Kong’s status as an international financial center.”
He added that China’s ongoing high-quality development offers greater opportunities and momentum for Hong Kong’s progress. “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 said.
Hong Kong’s Financial Secretary, Paul Chan Mo-po, echoed these sentiments in a recent social media post. He emphasized that the “stable” outlooks from the three agencies demonstrate the resilience and strength of Hong Kong’s economic and financial system amid growing global uncertainties.
Chan expressed optimism about Hong Kong’s financial markets, anticipating continued growth and significant achievements in attracting investment. He noted that these developments reflect international capital’s confidence and positive expectations for the region.
As the global economy faces rising challenges, Hong Kong’s affirmed credit ratings underscore its robust financial foundations and promising outlook for the future.
