BEIJING, April 27 (Xinhua) -- China's finance ministry on Monday commended Moody's decision to affirm China's A1 sovereign credit rating and upgrade its credit outlook to stable.

A ministry official said that this rating has reflected Moody's recognition of the strong resilience demonstrated by China's macroeconomic and fiscal strength amid external shocks, as well as new drivers and progress in the country's high-quality economic development.

According to the official, China's economy exceeded market expectations to achieve a rapid growth rate of 5 percent in the first quarter of 2026, explaining that against the backdrop of a rapidly changing global trade environment and continuously rising geopolitical risks, the Chinese government has implemented a package of macroeconomic regulation policies and strengthened policy coordination.

The Chinese economy has withstood pressure and moved toward innovation-led growth and optimized economic structure while demonstrating the advantages of a supersized market, a complete supply chain system and strong export competitiveness, said the official, noting that these are the cornerstones supporting China's sovereign creditworthiness.

"We will further comprehensively deepen reforms, continue to promote economic structural transformation, steadily enhance fiscal sustainability, accelerate the cultivation and expansion of new quality productive forces, and consolidate the foundation for stable economic operation," the official said.

By leveraging the certainty of its sustained and sound economic and social development, China will contribute more to world economic recovery and prosperity, the official added. ■