(MENAFN- ProactiveInvestors - Australia) Rating agency Fitch has conceded that China's economy will avoid a hard landing as the current slowdown is much less abrupt than during the global financial crisis four years ago.
Fitch lowered its forecast for China's full-year GDP growth for 2012 to 7.8 percent from 8 percent after September GDP growth was announced.
China's GDP grew 7.4 percent in the third quarter from a year earlier, the National Bureau of Statistics said on Thursday.
In September, China's retail sales saw the biggest year-on-year increase since March, although this may have been due to higher sales during the holiday period.
Industrial production was up 9.2 percent year-on-year.
The agency said that the stimulus from China could still be sufficient to help raise growth towards 8 percent by year-end and support a rate of about 8.2 percent in 2013.
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