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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Diplomacy

REUTERS SHOWCASE

Maruti Results

Maruti Results

Maruti Suzuki says profits helped by sentiment, not growth.  Full Article 

Tracking the Monsoon

Tracking the Monsoon

Monsoon turns patchy after revival.  Full Article 

ICICI Profit Up

ICICI Profit Up

ICICI Bank Q1 net profit up 17 percent, beats estimates.  Full Article 

Pharma Sector

Pharma Sector

FDA raises concern over drug production process at Cadila  Full Article 

Coal India

Coal India

Some Coal India mines may be run by foreign firms - minister  Full Article 

Fuel Prices

Fuel Prices

IOC to cut petrol prices by 1.5 pct from Friday  Read 

Economic Pulse

Economic Pulse

India's infrastructure output growth hits 9-month high in June  Full Article | Related Story 

Joint Bid

Joint Bid

ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources  Full Article 

Reuters India Mobile

Reuters India Mobile

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