China’s economy is stabilizing, with risks declining and under control, according to reports from several international financial institutions.

In terms of macro economy, BNP Paribas holds that China’s economy has remained stable since March 2016, and enterprises and industries are doing well due to monetary and fiscal stimulation.

A report by Standard Chartered says that China’s manufacturing purchasing managers’ index (PMI) outperformed market expectations in October. The rising industrial output and high PMI in non-manufacturing and construction industries indicate strong future growth.

According to Moody, China’s economic growth maintained a high level in general, and the Chinese government’s policies have stimulated infrastructure investment and domestic demand.

Reuters, based on predictions from more than 30 institutions, reported that China’s real economy is warming up and rising in October, with stable industrial growth and investment. As consumption remains strong, the annual growth target will be reached.

Meanwhile, China’s optimization of domestic economic structure is also the focus of all parties. Moody reports that consumption and services are becoming the main powerhouse to drive the economy, and 80 percent of capacity reduction goal in coal and steel has been achieved.

Moody also emphasized that the policy to reduce enterprise leverage issued in October will garner trust from international rating institutions and investors, and it is predicted that the Chinese government will continue to reduce leverage and capacity in the future.

According to Reuters, China’s export shows mild drops, with a recovering surplus, and may improve when overseas consumption rises in the fourth quarter.

Although global market demand remains weak, China’s exports will continue to recover under the support of the exchange rate, said Standard Chartered.