Moody's remains confident in outlook

Leading rating agency Moody's Investor Services Inc has affirmed it is confident that China's economy is well geared to withstand financial shocks, despite the nation's high debt levels.

"China, more than other emerging markets, has the ability to manage its own future, at least within the confines of its domestic financial system and the domestic economy," said Alastair Wilson, Moody's head of global sovereign rating.

He was speaking at Moody's annual emerging markets forum in London on Tuesday. Wilson said China's fiscal strength, its partially closed capital account, and high foreign exchange reserves are all well placed to help it absorb shocks, if necessary, and dissipate them over time.