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S&P affirms China’s AA-/A-1+, outlook stable

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S&P cites economic growth potential, healthy fiscal position, sees no major change in policy direction on change of leadership

  • Projects Chinese per capita real GDP growth at 7.3%
  • Govt debt up  around 1.4% of GDP/yr over 2012-2015
  • Net general govt debt  near 13.4% of GDP by 2014
  • Chinese average income lower than similar -rates sovereigns
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