China's GDP up 6.9% in Q2

China's GDP up 6.9% in Q2

"So I think the People's Bank of China just continues to be watchful".

The government is aiming for growth of about 6.5 per cent in 2017, slightly lower than last year's actual 6.7 per cent, which was the weakest pace in 26 years.

China yesterday reported better-than-expected growth in the second quarter, but analysts said the momentum might not last as authorities clamp down on rising debt.

China's economic growth held steady in the latest quarter, boosted by trade and consumer spending, despite concerns about a possible impending slowdown.

The average rural residents' per capita disposable income reached 6,562 yuan in the first half, up 7.4 percent after deducting price factors, while that of urban residents increased 6.5 percent to 18,322 yuan.

It was well above the 6.5% pace recorded in the year to May, and breezed past expectations for unchanged reading for the month.

A consolidation of power could give Xi more clout to push through what analysts say are long overdue but painful reforms such as restructuring massive state firm debt.

Clemson DE Is A Hornung Award Candidate
Pierson-El was named a second-team All-America selection and a freshman All-American by several organizations. The award is presented annually to the nation's best linebacker by the Butkus Foundation .

Industrial production grew 7.6 percent last month, while retail sales were up 11 percent, both better than the previous month, according to the official data.

Investment, the biggest single component of economic growth in recent years, rose by 8.6% in the first half of the year, but that was down from 0.6% from the first quarter's expansion.

Economists warn the Chinese economy could cool further to 6.6 percent in 2017 despite the signs of a rebound.

The composition of Chinese exports also changed in ways that could intensify trade friction and affect China's trade surplus.

On a quarterly basis, GDP added 1.7 percent from 1.3 percent in the first quarter matching estimates.

Last year, the world's second-largest economy had its slowest growth rate in nearly 30 years, at 6.7 percent.

China's fixed-asset investment from January to June was also up 8.6 percent in the first half of the year compared to average forecast of 8.5 percent.

Related Articles