China urges S&P to make objective judgement

ChinaonFridaydismissedthedecisionbyratingsagencyStandardPoor's(SP)toloweritsoutlookonChina,andurgedtheagencytomake"objectivejudgement."

"TheChineseeconomyhasenteredthenewnormal,beingintheprocessofeconomictransformationandupgrading.However,thefundamentalsoftheeconomyhavestayedunchangedandwillremainsoundinthelongrun,"saidForeignMinistryspokespersonHongLei.

RatingsagencyStandardPoor'schangedChina'screditoutlooktonegativeonThursday,accordingtoReuters.HongtoldaregularpressbriefingthatChina'seconomygrew6.9percentyearonyearin2015.Chinahasremainedamajordrivingforcefortheworldeconomy.

Moreover,Chinahasmadesubstantialprogressinitseconomicstructuralreform.Intermsofthecontributiontoeconomicgrowth,consumptionoutweighedinvestment,makinga66.4percentcontribution.Thevalue-addedoftheserviceindustryaccountedforoverhalfofGDP."AllthisindicatesthatthequalityofChina'seconomicgrowthisgettingbetter,anditsstabilityanddevelopmenthasmadegreatcontributionstotheworld,"Hongsaid.

HongsaidtheChineseeconomywillmaintainsteadyandhealthydevelopmentthroughreform,developingnewenginesandupgradingtraditionalones,andwillmakeagreatercontributiontotheworldeconomicrecoveryandgrowth.

HeurgedtheagencytohaveacomprehensiveunderstandingofChina'seconomicdevelopmentandmakeobjectivejudgement.

(XINHUAFINANCE)