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

Drug Pricing

REUTERS SHOWCASE

Modi Speaks

Modi Speaks

PM Modi says al Qaeda will fail in India - CNN.  Full Article 

Alibaba Listing

Alibaba Listing

Alibaba surges on massive demand in trading debut  Full Article 

Importing Rice

Importing Rice

Top rice exporter India importing over 100,000 T on temporary supply squeeze.  Full Article 

GSK Fined

GSK Fined

China hands drugmaker GSK record $489 mln fine, sentences executives.  Full Article 

HMT in Demand

HMT in Demand

Fans rush to HMT as watchmaker marks time.  Full Article 

Apple Not Cool?

Apple Not Cool?

Some consumers say Apple is losing its "cool" factor  Full Article 

Reuters India Mobile

Reuters India Mobile

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