Latest note from the US ratings agency

  • expects IMF to include Chinese renminbi in SDR basket at IMF meeting on 30th Nov

And there will be much dancing and high-fives in the corridors of Beijing

  • does not expect inclusion to lead to a material shift in demand for renminbi assets globally
  • affirms China at A+, outlook stable
  • believes the Chinese sovereign faces a relatively high level of contingent obligations
  • even in its benign case expects the credit-negative adjustments in China will lead to slower growth with more economic, financial volatility
  • expects China's current account to rise to 2.9% in 2015 from 2% in 2014

Fitch remaining justifiably cautious