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
- UPDATE 2-Girl who fatally shot Arizona gun instructor said weapon was too powerful
- UPDATE 1-Girl who fatally shot Arizona gun instructor said weapon was too powerful
- UPDATE 6-Islamic State issues video of beheading of U.S. hostage
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Comedian Joan Rivers still on life support - daughter
Optimism that sunny growth figures herald an economic revival in India is probably misplaced - in fact there is little hard evidence to support the idea that Asia's third-largest economy is heading for a broader and sustained rebound anytime soon. Full Article
100 days of Modi: Good for business, not so good for marginalised groups. Full Article