Moody's says China avoids hard landing, needs reforms
REUTERS - Moody's Investors Service on Wednesday said China's economy had dodged a hard landing and was recovering well, though future growth would depend on making more progress on structural reform.
In a report on the world's second largest economy, Moody's said recent data pointed to a rebound in economic activity and suggested growth should climb to the upper half of the 7.5 percent to 8.5 percent range it previously forecast.
"The Mainland's new leadership looks committed to financial-sector, fiscal and structural reforms, and the orderly transition to the country's fifth generation of political leaders has reduced uncertainty for investors," the ratings agency said.
Yet it also warned that unchecked non-bank credit growth could endanger the soundness of the banking system and in turn the economy. (Reporting by Wayne Cole)
- Tweet this
- Share this
- Digg this
- Dallas Ebola patient vomited outside apartment on way to hospital |
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- Loss of smell may be predictor of death in older adults - study
- Dallas Ebola patient vomited outside apartment on way to hospital
- U.S. Secret Service director resigns under fire
India could run out of a critical medicine in its free HIV/AIDS drugs programme in three weeks due to bureaucratic bungling, a senior government official said, leaving more than 150,000 sufferers without life-saving drugs for about a month. Full Article