BEIJING - Moody's decision to affirm China's A1 ratings on Monday is a positive reflection of the improving prospects for the country's economy, the Chinese Ministry of Finance said.

Since the fourth quarter of last year, the Chinese government has implemented a series of macroeconomic policies, economic indicators have improved, market expectations and confidence have stabilized, and the medium and long-term sustainability of debt has improved, the ministry said.

The global economy is facing multiple risks and challenges, including insufficient momentum, escalating geopolitical conflicts, and a volatile international economic and trade order, leading to increased uncertainty in regard to economic performance, it noted.

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Against this backdrop, China's economy has secured a strong start, with high-quality development trending positively. Production and consumption demand are steadily rising, and the stability and coordination of economic operations are improving, demonstrating strong resilience and vibrant dynamism, it said.

Moving forward, a series of incremental and existing policies will work in concert to provide solid support for high-quality economic development, the ministry said.

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Regardless of changes in the external environment, China will remain confident and focused, concentrating on managing its own affairs well, it noted.