<h1><br /><img src="http://ichef-1.bbci.co.uk/news/ws/660/amz/worldservice/live/assets/images/2014/12/24/141224055254_standard_poors_624x351_reuters.jpg" width="624" height="351" data-highest-encountered-width="660" style="font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit; letter-spacing: inherit; line-height: inherit; color: #bdbdbd; margin: 0px; padding: 0px; vertical-align: baseline; height: auto; max-width: 100%; -webkit-user-select: none; width: 645.781px; display: block; background-color: #111111;" alt="" /></h1><div property="articleBody" style="border: 0px; color: #404040; font-family: Helvetica, Arial, STHeiti, 华文黑体, \’Microsoft YaHei\’, 微软雅黑, SimSun, 宋体, \’WenQuanYi Micro Hei\’, sans-serif; font-size: 14px; line-height: 14.5455px; margin: 0px 53.7642px 0px auto; padding: 0px; vertical-align: baseline; background-color: #ffffff;"><figure style="border: 0px; color: inherit; font-style: inherit; font-family: inherit; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 32px -54.2188px 0px 0px; padding: 0px; vertical-align: baseline; clear: both; background-color: #111111;"><span style="border: 0px; color: inherit; font-style: inherit; font-family: inherit; font-size: 14px; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline; display: block; position: relative;"><span style="border: 0px !important; color: inherit; font-style: inherit; font-family: inherit; font-size: 14px; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px !important; vertical-align: baseline; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; height: 1px !important; width: 1px !important;">Image copyright</span><span style="border: 0px; color: #ececec; font-style: inherit; font-family: inherit; font-size: 0.5625rem; font-weight: inherit; letter-spacing: 0.25px; line-height: 1; margin: 0px; padding: 3px 8px 1px; vertical-align: baseline; bottom: 0px; position: absolute; right: 0px; background: rgba(0, 0, 0, 0.6);">Reuters</span></span><figcaption style="border: 0px; color: inherit; font-style: inherit; font-family: inherit; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 16px; vertical-align: baseline; visibility: visible;"><span style="border: 0px !important; color: inherit; font-style: inherit; font-family: inherit; font-size: 14px; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px !important; vertical-align: baseline; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; height: 1px !important; width: 1px !important;">Image caption</span><span style="border: 0px; color: #ececec; font-style: inherit; font-family: inherit; font-size: 0.75rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.33333; margin: 0px; padding: 0px; vertical-align: baseline; display: block;">标准普尔还说，在未来三年，中国经济的增战率预计不会低于6%。</span></figcaption></figure><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: bold; letter-spacing: inherit; line-height: 1.5; margin-top: 28px; padding: 0px; vertical-align: baseline;">周四（3月31日），国际评级机构标准普尔（S&P）将中国的主权评级展望从“稳定”下调至“负面”，但称中国在未来三年经济增速不会低于6%。</p><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.5; margin-top: 18px; padding: 0px; vertical-align: baseline;">“我们调整对中国的评级展望，反映我们预期中国政府信用度面临的经济和金融风险正逐步上升。”标准普尔在传送给BBC中文网的声明中说。</p><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.5; margin-top: 18px; padding: 0px; vertical-align: baseline;">“这是基于我们相信未来五年内中国在经济再平衡方面会取得小幅进展，并且信贷增长会放缓。”</p><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.5; margin-top: 18px; padding: 0px; vertical-align: baseline;">标准普尔还说，在未来三年，中国经济的增长率预计不会低于6%，但该机构预期中国政府和企业财务杠杆会“恶化”，且投资占国内生产总值（GDP）的比率“可能还会远高于我们认为可持续的30%－35%的水平。”</p><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.5; margin-top: 18px; padding: 0px; vertical-align: baseline;">标准普尔说，这是在该机构目前主权评级的国家中最高的。</p><h2>并非首个机构下调</h2><figure style="border: 0px; color: inherit; font-style: inherit; font-family: inherit; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 24px -24.6449px 0px 0px; padding: 0px; vertical-align: baseline; clear: both; background-color: #111111;"><span style="border: 0px; color: inherit; font-style: inherit; font-family: inherit; font-size: 14px; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline; display: block; position: relative;"><img src="http://ichef-1.bbci.co.uk/news/ws/624/amz/worldservice/live/assets/images/2016/03/09/160309121415_xinhua_moodys_624x351_xinhua.jpg" datasrc="http://ichef-1.bbci.co.uk/news/ws/320/amz/worldservice/live/assets/images/2016/03/09/160309121415_xinhua_moodys_624x351_xinhua.jpg" width="624" height="351" data-highest-encountered-width="624" style="color: #bdbdbd; font-style: inherit; font-family: inherit; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline; height: auto; max-width: 100%; -webkit-user-select: none; width: 616.207px; transition: opacity 0.5s ease-in; display: block;" alt="" /><span style="border: 0px !important; color: inherit; font-style: inherit; font-family: inherit; font-size: 14px; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px !important; vertical-align: baseline; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; height: 1px !important; width: 1px !important;">Image copyright</span><span style="border: 0px; color: #ececec; font-style: inherit; font-family: inherit; font-size: 0.5625rem; font-weight: inherit; letter-spacing: 0.25px; line-height: 1; margin: 0px; padding: 3px 8px 1px; vertical-align: baseline; bottom: 0px; position: absolute; right: 0px; background: rgba(0, 0, 0, 0.6);">Xinhua</span></span><figcaption style="border: 0px; color: inherit; font-style: inherit; font-family: inherit; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 16px; vertical-align: baseline; visibility: visible;"><span style="border: 0px !important; color: inherit; font-style: inherit; font-family: inherit; font-size: 14px; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px !important; vertical-align: baseline; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; height: 1px !important; width: 1px !important;">Image caption</span><span style="border: 0px; color: #ececec; font-style: inherit; font-family: inherit; font-size: 0.75rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.33333; margin: 0px; padding: 0px; vertical-align: baseline; display: block;">新华社说，穆迪的做法只会透支其公信力、影响力，“令其有关指标前瞻世界经济的权威性大打折扣”。</span></figcaption></figure><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.5; margin-top: 18px; padding: 0px; vertical-align: baseline;">这已经是本月以来第二个国际评级机构下调中国的评级展望。3月2日，另一家国际评级机构穆迪将中国的政府信用评级展望从“稳定”下调至“负面”。</p><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.5; margin-top: 18px; padding: 0px; vertical-align: baseline;">那次评级调整是自2013年惠誉下调中国主权信用评级以来，国际评级机构首次改变对中国的展望。</p><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.5; margin-top: 18px; padding: 0px; vertical-align: baseline;">这一报告引发了官方媒体的“声讨”。新华社说，穆迪的做法只会透支其公信力、影响力，“令其有关指标前瞻世界经济的权威性大打折扣”。</p><h2>反腐有益</h2><figure style="border: 0px; color: inherit; font-style: inherit; font-family: inherit; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 24px -24.6449px 0px 0px; padding: 0px; vertical-align: baseline; clear: both; background-color: #111111;"><span style="border: 0px; color: inherit; font-style: inherit; font-family: inherit; font-size: 14px; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline; display: block; position: relative;"><img src="http://ichef-1.bbci.co.uk/news/ws/624/amz/worldservice/live/assets/images/2016/03/05/160305023955_china_economy_624x351_getty.jpg" datasrc="http://ichef-1.bbci.co.uk/news/ws/320/amz/worldservice/live/assets/images/2016/03/05/160305023955_china_economy_624x351_getty.jpg" width="624" height="351" data-highest-encountered-width="624" style="color: #bdbdbd; font-style: inherit; font-family: inherit; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline; height: auto; max-width: 100%; -webkit-user-select: none; width: 616.207px; transition: opacity 0.5s ease-in; display: block;" alt="" /><span style="border: 0px !important; color: inherit; font-style: inherit; font-family: inherit; font-size: 14px; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px !important; vertical-align: baseline; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; height: 1px !important; width: 1px !important;">Image copyright</span><span style="border: 0px; color: #ececec; font-style: inherit; font-family: inherit; font-size: 0.5625rem; font-weight: inherit; letter-spacing: 0.25px; line-height: 1; margin: 0px; padding: 3px 8px 1px; vertical-align: baseline; bottom: 0px; position: absolute; right: 0px; background: rgba(0, 0, 0, 0.6);">Getty</span></span><figcaption style="border: 0px; color: inherit; font-style: inherit; font-family: inherit; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 16px; vertical-align: baseline; visibility: visible;"><span style="border: 0px !important; color: inherit; font-style: inherit; font-family: inherit; font-size: 14px; font-weight: inherit; letter-spacing: inherit; line-height: inherit; margin: 0px; padding: 0px !important; vertical-align: baseline; clip: rect(1px 1px 1px 1px); overflow: hidden; position: absolute !important; height: 1px !important; width: 1px !important;">Image caption</span><span style="border: 0px; color: #ececec; font-style: inherit; font-family: inherit; font-size: 0.75rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.33333; margin: 0px; padding: 0px; vertical-align: baseline; display: block;">标准普尔在周四的这份报告中还提及中国的反腐运动，称北京的反腐运动“是改善国家机构和国有企业治理水平的重要举措”。</span></figcaption></figure><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.5; margin-top: 18px; padding: 0px; vertical-align: baseline;">标准普尔在周四的这份报告中还提及中国的反腐运动，称北京的反腐运动“是改善国家机构和国有企业治理水平的重要举措”。该机构还说，这可能提高法制的信心，并“改善改善私营部门的经营环境，提高资源配置效 率，以及增强社会契约等”。</p><p style="border: 0px; font-style: inherit; font-family: inherit; font-size: 1rem; font-weight: inherit; letter-spacing: inherit; line-height: 1.5; margin-top: 18px; padding: 0px; vertical-align: baseline;">但标准普尔在这份报告中敦促中国政府继续实施改革，以提升对市场宏观经济管理工具的依赖。同时，该机构还认为中国决策者应该提高透明度，改善信息可获得性，并深化金融市场的自由化，以及人民币更多用于官方储备管理，来支持中国的改革。</p></div>