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Dagong maintains China's AA+ credit rating


08:54, December 19, 2012

BEIJING, Dec. 18 (Xinhua) -- China's domestic rating agency Dagong Global Credit Rating Co. Ltd. announced Tuesday it would maintain the local currency credit rating of the country at AA+.

It also decided to maintain the foreign currency credit rating of China at AAA with a stable outlook, according to its report released Tuesday.

China's economy has turned onto the stage of comprehensive structural adjustments, with "clear growth prospects" in the mid- and long-term, Dagong said.

The agency said the financial risks following the country's large-scale credit expansion in 2009 have been gradually resolved.

In the short-term, China's macro-policies will focus on enhancing the quality of growth, and further digesting potential risks in the economy, the agency said.

It foresees GDP growth this year at 7.8 percent and 8.5 percent in 2013. As momentum continues to improve and the economic structure further optimizes, China's annualized growth rate for the 2011-2020 period will average at eight percent, the agency added.

The optimistic outlook came as a range of key economic indicators, including industrial output and manufacturing activities, pointed to a warming-up in China's growth, posting a 7.4-percent expansion in the third quarter, the weakest growth in more than three years.

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