China posts stable 6.9% growth in Q2

China posts stable 6.9% growth in Q2

The quarterly pace came up from 6.7 percent for the first three quarters of 2016 and 6.8 percent for the final quarter of a year ago.

Growth past year was 6.7% and the official target announced last March for 2017 was around 6.5%.

Robust overseas shipments-reflecting renewed strength in the global economy-and solid consumption at home helped offset a slowdown in investment.

China's economy grew 6.9 percent y/y in the second quarter of 2017, a notch higher than market expectations and well above the growth target of 6.5 percent. Retail was another bright sport, jumping by 11 percent from a year earlier. The latest numbers position the economy above Beijing's stated growth target for 2017.

Debt-fuelled investment in infrastructure and real estate has underpinned China's growth for years, but warnings of a potential financial crisis have spurred Beijing to clamp down.

What that translates to is tighter control over the financial system and the economy, which could pose further strains as China's economy transitions to new sources of growth.

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Susan Collins , R-Maine, doesn't want to proceed to the bill because it would actually address rampant Medicaid spending. Republican Senator Mitch McConnell announced the delay on July 15, due to Senator John McCain needing surgery next week.

With the economy still on a slowing-growth trend, China should "strictly prevent risks from liquidity, credit, shadow banking and abnormal capital market fluctuations, as well as insurance market and property bubbles", the commentary said.

Another aspect of concern for President Donald Trump is the fact that steel output hit a record high 73.23 million tons in June, the NSB said, while aluminium production rose 7.4% from the same period previous year to 2.93 million tons.

Investors also attribute stocks' diverging fortunes to policy messages from the fifth National Financial Work Conference held over the weekend, in which President Xi Jinping vowed to strengthen the Communist Party's leadership in the financial sector.

New construction starts measured by floor area, a telling indicator of developer confidence, rose 14.0 percent in June, the highest since October 2016, according to Reuters calculations.

Industrial output gained 7.6 percent in June prior year beating analysts' expectation of a 6.5 percent increase.

While the economy steams along, the government is setting a wary tone: The front page commentary in the People's Daily, said China should not only be alert to "black swan" risks that catch people off guard but also more obvious threats.

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