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

Inside the Peshawar school

Inside the Peshawar school

The aftermath inside the Pakistan school where at least 132 students and nine staff members were killed by Taliban gunmen.  Pictures 

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:

Economic Pulse

REUTERS SHOWCASE

New Tax Rules

New Tax Rules

Government to compensate states for revenue losses from new GST.   Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Reuters Exclusive

Reuters Exclusive

Google aiming to go straight into car with next Android – sources.  Full Article 

26/11 Plotter

26/11 Plotter

Pakistan to challenge bail for Mumbai attack "mastermind".  Full Article 

Chinese Economy

Chinese Economy

China revises up size of 2013 economy, sees no effect on 2014 growth.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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