Global rating agency Fitch says there is little risk that China's economy will experience a hard landing, or that the Renminbi will experience further sharp declines. A report from the agency says there are encouraging signs for China's economy, including rising rail freight volume and higher industrial profits.

China's GDP growth has held steady at 6.7 percent for three straight quarters. China's currency, the Renminbi, ended its losing streak on Wednesday, as the central parity rate strengthened 39 basis points, to 6.77 against the US dollar. Fitch expects the Renminbi to continue to gradually depreciate against the dollar in the near-term.