Hard landing risks recede, says Fitch
Global rating agency Fitch said risks of a hard landing for China’s economy and of a further sharp depreciation of the yuan have receded in the near term. “There are signs of stabilization in the Chinese economy ... the policy response in China will allow the country to manage its growth gradually to a sustainable level and avoid a hard landing,” according to Fitch Ratings’ latest report on economic risks in the Asia Pacific region. The report came out as China’s GDP growth held steady at 6.7 percent for a third straight quarter, with encouraging signs including rising rail freight volumes and industrial profits. the end of 2015. By the end of September, the number of micro-credit companies in China totaled 8,741, the People’s Bank of China said in a statement on its website. Micro-lenders largely target small companies and low-income groups in need of capital. In recent years, microlending companies have become an important channel for medium and small-sized firms as well as individuals to access funds.