China comes out as a key geography in terms of having weaker balance sheets, consistent with reported signs of credit expansion in the economy, according to Fidelity's latest Analyst Survey released on Monday.

It was made based on 128 Fidelity analysts based in Europe and Asia.

The survey added that they don't think a credit crisis will happen in China given the strong liquidity support from the government.

China is still a robust story, moving to a structural reform and domestic consumption narrative from an export growth play, said the survey.

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