Fitch Ratings affirmed Shenzhen Investment Holding's long-term foreign- and local-currency issuer default ratings at 'A' with a stable outlook.

The ratings agency said the affirmation reflects the company's unchanged policy role in managing state-owned assets and supporting industrial development in Shenzhen, as well as its strong links to the municipal government.

Fitch said government support for Shenzhen Investment would be "virtually certain" if needed, citing the company's strategic importance as the city's key state-owned asset management and investment platform.

The agency also highlighted the company's diversified investment portfolio, stable cash flow generation, and solid access to funding.

Fitch expects the company's debt level to remain broadly stable through 2030, supported by investment income and asset disposals.