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Fitch affirms China's A+ rating

Fitch Ratings on Friday maintained its A+ rating on China with a stable outlook, citing the strength of the country's external finances and macroeconomic record. Short-term growth prospects remain favorable, and economic policies have been effective in responding to an array of domestic and external pressures in the past year, Fitch said. A Reuters poll of 65 economists indicated that China's economic growth is expected to reach 6.6 percent this year, topping the government's target of around 6.5 percent. But large and rising debt levels across the non-financial sector, combined with the low stand-alone credit quality of Fitch-rated banks in the financial system, remain the most significant risk factor for the sovereign rating, Fitch said.

Chinese firms win buyout bid for GLP