China's 1Q economic growth ticks higher to 6.9 percent
Chinese migrant workers return to their temporary construction camp at a construction site in Beijing, China, 17 April 2017. Relatively cheap credit spurred booming property sales.
Workers survey the construction site of the terminal for the Beijing New Airport in Beijing's southern Daxing District, China October 10, 2016.
Here's what juiced real estate prices even more: The country's domestic debt ratio (total debt to GDP) rose by 28% of Chinese GDP in the 12 months through last June-which was a faster pace than during China's 2008-2009 stimulus boom, according to Emerging Advisors Group.
China's economy grew 6.9 per cent in the first quarter of 2017, government data showed on Monday, beating expectations in the latest sign of stabilisation in the world's second-largest economy. Last year, 64.6 per cent of growth came from consumption.
The value of China's home sales remained buoyant in March, according to data released Monday by the National Bureau of Statistics.
Fears of being dragged into a trade and currency war with the U.S. have abated after U.S. President Donald Trump toned down his previously antagonistic comments against Beijing.
A summit earlier this month with Chinese President Xi Jinping (習近平) ended calmly and the US Department of the Treasury did not label China a currency manipulator in its latest assessment.
Retail spending increase 10.9%, more than estimated, whereas the fixed-asset investments grew 9.2% in the first quarter of the current year, showing a little improvement from February. Industrial production rose 6.8%, including a stronger-than- expected 7.6% year-on-year gain in March.
Beside the headline figures, other major indicators also showed a resilient economy.
The economist said the current strength of capital spending still remains heavily reliant on rapid state- led infrastructure investment.
This decline in growth experienced by China's secondary industries, "the core of China's old economy", is part of an ongoing transition to a new economy, the bank said.
Analysts had expected quarterly growth would ease to 1.6%, so on that basis there was a noticeable slowing in the pace of activity in the three months to March, despite higher production figures for steel, electricity and rail freight. Nordea estimates that last year's 19% increase in housing prices across the nation resulted in a wealth increase of more than 38,000 yuan ($5,516) per head, which is 1.6 times the per capita annual disposable income.
Some of the more draconian government policies included requiring newly bought homes to be held for at least two to three years before they could be sold, a measure against short-term speculation and hailed by analysts as a "policy innovation".
This maneuver makes more sense than any other trade scenario in the draft. "We've said the draft is going to be the pipeline". However, in this draft there doesn't appear to be a player several teams would covet with the second overall pick.
Coach Todd McLellan knows what to expect from the franchise he coached for seven seasons before being replaced by DeBoer. The Oilers , though, regrouped in the second period when they outshot the Sharks 12-4 and slowly gained some momentum.
Meanwhile, Bloomberg reported that analysts had predicted that Netflix would add 5.49 million new users in the first quarter. Revenue was projected to increase 35 percent year over year to $2.64 billion in the first quarter.
By the way, Barcelona and Real Madrid compete in the El Clasico, which for many is the greatest rivalry in club football. From Cristiano Ronaldo's new record to Dortmund fans' hospitality, relive the best of the UCL quarterfinal first legs.
The Giants honored longtime Major League Baseball senior executive Katy Feeney, who died April 1 at age 68. Matt Moore earned the victory for the Giants, going eight innings allowing three hits and struck out five.
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Hernandez's control has been impeccable early this season, as he has yet to issue a walk while striking out 15 in 18 1/3 innings. Haniger was considered the extra piece of Seattle's biggest offseason move when it acquired Jean Segura in a trade with Arizona.
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