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Fitch Affirms China's Long-Term Issuer Default Rating at A

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Fitch affirmed China's long-term issuer default rating at A as the country's economy shows growth potential in its transition toward its new growth drivers.

The outlook on the rating is stable, according to a Monday note.

The ratings reflect the country's resilient GDP outlook, improved price dynamics, and an expected "slightly contractionary" fiscal policy, among others.

China is recovering from deflation, while its fiscal deficit is narrowing to about 7.3% of GDP in 2026 from 7.6% in 2025, Fitch said. Meanwhile, government debt is seen to reach nearly 80% of GDP by 2028, higher than the median of 58.6% for its A-rated peers.

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