Moody's says China avoids hard landing, needs reforms

Wed Feb 20, 2013 7:47am IST

An employee works on a steel production line at an export factory in Dalian, Liaoning province, February 8, 2013. REUTERS/China Daily

An employee works on a steel production line at an export factory in Dalian, Liaoning province, February 8, 2013.

Credit: Reuters/China Daily

Related Topics

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)

FILED UNDER:

Reuters Showcase

Legal Complaints

Legal Complaints

Government's payday from telecoms auction could be delayed  Full Article 

Running State Banks

Running State Banks

India signals private-sector bosses could run state-owned banks  Full Article 

India Forecast Raised

India Forecast Raised

S&P raises India's GDP forecasts, says it's a bright spot in Asia  Full Article 

StanChart CEO

StanChart CEO

StanChart picks ex-JPMorgan exec Winters as CEO to replace Sands  Full Article 

Wockhardt Plant

Wockhardt Plant

Wockhardt says FDA raises new concerns about Waluj plant  Full Article 

Banking Sector

Banking Sector

State-owned banks' capital needs may be higher - RBI deputy  Full Article 

Shares Sale

Shares Sale

Bharti Airtel says raised $310 mln through share sale in tower unit  Full Article 

Inflation Target

Inflation Target

India should meet RBI inflation target by Jan 2016 - RBI deputy  Full Article 

International Exchange

International Exchange

NSE plans to set up international exchange in Gujarat  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage