Moody's Investors service says China's considerable fiscal and external buffers provide time for structural reforms to gain traction. Fiscal and monetary reforms are underway. But the fundamental restructuring and rebalancing process will be a multi-year endeavor, extending into the second half of this decade. The rating agency also noted that China's moderate institutional strength -- as reflected in weak rule of law and control of corruption governance indicators -- is the key credit constraint. Judicial and legal system reforms outlined by the Fourth Plenum in October 2014 are, however, being formulated in an ... (full story)