China releases second quarter GDP data and other key indicators

Soy agreement is latest China-U.S. agreement in 100-day round

Studies over the years have found that China's national statisticians appear to overstate growth during periods of economic weakness and understate growth when the economy is booming.

While there is much debate around the accuracy of China's official economic data, last week the Chinese statistics bureau announced it has revised the way it calculates the country's GDP.

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

But China's speedy growth - an uptick from the 6.7% it recorded previous year - will be hard to sustain in the months to come, analysts say, as the government focuses on reining in the country's rapidly ballooning debt.

Part of China's economic health in the second quarter reflected robust exports, with demand beginning to recover in Europe and particularly the USA after a long period of depressed growth. "We hope the dialogue will be a meaningful exchange and help to build an even stronger basis for our economic and trade relations, as we deal with the uncertainties of the global economy".

"Generally speaking, the national economy has maintained the momentum of steady and sound development in the first half of 2017, laying a solid foundation for achieving the annual target and better performance".

Roselle Man Charged in Multi-Vehicle Crash That Killed 2, Police Say
A 38-year-old woman who was driving eastbound on the parkway swerved, but was struck by Shakespeare's vehicle, police said. They say he sideswiped a auto next to him, lost control, and swerved across three lanes, hitting two more cars.

The main Asian stock indexes fell on the data, before recovering to close the day at new highs.

Over the half, China produced 419.75 million tonnes of crude steel, up 4.6% on the same period a year earlier. In the first half, retail sales advanced 10.4%.

Year-on-year growth in retail sales accelerated to 11 percent in June, from 10.7 percent in May, while fixed-asset investment also picked up speed in June.

China's gross domestic product (GDP) for the second quarter continued its pace in the first quarter as industrial output and strong consumption lifted the country's factories.

China's ruling Communist Party has focused on keeping the economy stable ahead of a reshuffle of its top leadership in the fall, when President Xi Jinping will start his second term.

Beijing is trying to rein in debt and prevent new housing bubbles with active measures in the property sector and with lenders. In 2016 China expanded by 6.7 per cent.

Related News:

  • How Does JPMorgan Chase & Co. (JPM) Stack Up Right Now?

    Following the acquisition, the director now directly owns 299,862 shares in the company, valued at approximately $25,632,203.76. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management.
    Track Fire In Harlem Disrupts Subway Service; 9 Treated For Smoke Inhalation

    Track Fire In Harlem Disrupts Subway Service; 9 Treated For Smoke Inhalation

    B train service resumed with delays after being suspended between Bedford Park Boulevard and Brighton Beach in both directions. Twitter user Tamara Hansson tweeted , "Now me and several hundred other people are walking to the 145th 1 train".
    Yankees notebook: Chapman rebounds, Judge cools

    Yankees notebook: Chapman rebounds, Judge cools

    CC Sabathia allowed two hits over six innings in the opener, and Didi Gregorius hit a solo home run to give NY a 3-0 victory. Boston (52-41) salvaged a split of its four-game series with NY (47-43) after losing earlier Sunday afternoon .
  • JMP Securities Upgrades Fifth Street Finance Corp. (FSC) to Outperform

    Increasing profits are the best indication that a company can pay dividends and that the share price will trend upward. TheStreet lowered Fifth Street Finance Corp. from a "c-" rating to a "d+" rating in a report on Wednesday, June 14th.
    United States  conglomerate to purchase Dominion Diamond in $1.2B U.S.  deal

    United States conglomerate to purchase Dominion Diamond in $1.2B U.S. deal

    The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.04. The Stock traded with an actual day volume of 4.01 Million and average volume of 545.36 Million respectively.
    Stressful life events can age brain

    Stressful life events can age brain

    Manage other health conditions such as high blood pressure, high cholesterol and type 2 diabetes. But she said the brain was an "incredibly intricate organ" to research.
  • Centrica PLC (CPYYY) Upgraded at HSBC Holdings plc

    The firm's 50 day moving average price is GBX 495.34 and its 200-day moving average price is GBX 477.21. The firm has a market cap of $188.62 billion, a price-to-earnings ratio of 357.11 and a beta of 0.87.
    Barclays fraud trial over 2008 financial crisis fundraising deals set for 2019

    Barclays fraud trial over 2008 financial crisis fundraising deals set for 2019

    The four former executives appeared at Southwark Crown Court for a trial preparation hearing today (Mon). Boath and Kalaris each face one fraud count between May and August over the June capital raising.
    GST Council increases cess on cigarettes; blow to manufacturers

    GST Council increases cess on cigarettes; blow to manufacturers

    Earlier there were reports that the Union Government may hike cess on cigarettes if prices fell after GST implementation. The cess was made up of 5 per cent ad valorem rate and a fixed per thousand stick rate based on length of cigarettes.
  • Burglary at Heller's Las Vegas office investigated

    Burglary at Heller's Las Vegas office investigated

    Dean Heller , R-Nev., is shown during a press conference at the Grant Sawyer State Office Building in Las Vegas. We have reached out to the Las Vegas Metro Police Department and Senator Dean Heller's office.
    US To Allow 15000 Additional Visas For Temporary Workers

    US To Allow 15000 Additional Visas For Temporary Workers

    And while President Donald Trump has touted a " Hire American " mantra, he's also defended the use of H-2B visas at places like his Mar-a-Lago resort in Florida.
    Stenson pessimistic about retaining British Open title

    Stenson pessimistic about retaining British Open title

    Following Stenson's group will be 2010 Open champion Louis Oosthuizen , England's Justin Rose and American Justin Thomas . Henrik Stenson has cast doubt on the chances of him retaining his Open Championship title at Royal Birkdale next week.


Most liked

IDF soldier who shot wounded terrorist sent to house arrest
He will remain there except for trips to the synagogue, accompanied by a family member, on Friday night and Shabbat day. Elor Azaria, speaks to press at the Kirya military base in Tel Aviv following the verdict of Azaria on January 4, 2017.

Macron: Charm Offensive May Soften Trump's Climate Stance
President to reverse his pledge to pull out of the Paris climate accord might be asking for too much. The White House, meanwhile, remains non-committal about the USA rejoining the climate deal.

Longmont weather: Highs in the 80s and showers over the weekend
Some showers and storms could linger into Sunday across the Upstate while western NC sees a lower chance of rain or storms. Partly cloudy skies will follow into Wednesday night , along with a slight chance of showers.

Tesla driver denies 'Autopilot' led to Minnesota crash
But the driver said in the email released on Monday he believed he had disengaged the Autopilot system at the time of the crash. Additionally, every time that Autopilot is engaged, the auto reminds the driver to "Always keep your hands on the wheel".

Makarova and Vesnina cruise to Wimbledon women's doubles title
It soon became clear that would not be the scenario playing out however, as Russians Makarova and Vesnina tore through the first set.

London Gatwick airport runway briefly closed after plane's tyre burst - spokesman
A flight from London to Toronto carrying 282 passengers has been forced to turn back after one of its tires burst as it took off. All inbound and outbound flights have since been halted for more than an hour with inspectons still taking place on the runway.

Newgarden wins second Honda Indy Toronto
This weekend, the Verizon IndyCar Series heads to Toronto to race in the 12th of 17 events ( Honda Indy Toronto , Sunday, 3 p.m. Josef Newgarden had some fun at hometown star James Hinchcliffe's expense in the Honda Indy Toronto .

Most Active Stock: Ocular Therapeutix, Inc. (OCUL)
Finally, Berson & Corrado Investment Advisors LLC boosted its stake in shares of Ocular Therapeutix by 5.8% in the first quarter. Ocular Therapeutix has a one year low of $4.04 and a one year high of $11.91. (NASDAQ: OCUL ) plummeted -0.22% to $6.66.

Queen biopic production imminent
In a statement, Queen's Roger Taylor and Brian May say, "Rami has great presence and he's utterly dedicated to the project". Later, Ben Whishaw was to star with Dexter Fletcher directing, but more creative issues nixed that team-up.

Here's how Katrina Kaif celebrated her birthday
Well, that's what Twitterati have been joking about ever since an editor goofed-up with the footage of IIFA Awards 2017. At the glittering ceremony of IIFA Awards, Alia along with Varun Dhawan sang birthday song for the actress.

Reports: Real To Bid £50m For Man Utd Star
United later backed out and signed Belgian Romelu Lukaku from Everton for a reported transfer fee of 75 million pounds ($98.19 million).

South Florida Watching Two Tropical Waves In The Atlantic
The hurricane center said the storm could develop more over the day or two as it reaches the Lesser Antilles in the Caribbean. After that, less favourable upper-level winds are expected to hinder additional development.

Charlie Gard to be examined by U.S. doctor who created experimental treatment
Hirano says the therapy he is developing could improve the condition of Charlie who suffers from a form of mitochondrial disease. Connie Yates will join USA neurosurgeon Michio Hirano and other medical experts at Great Ormond Street Hospital, London.

No Exceptions For Depositing Old Notes: Centre To Chief Justice Of India
Government referred to the earlier instances of misuse of extensions given for submitting demonetised notes. People queued up in front of banks to deposit their old notes after demonetisation was announced.

Greenlaw Named To Butkus Award Watch List
The Butkus Award has been given out annually since 1985, and has been awarded by The Butkus Foundation since 2008. He added 125 yards through the air on 17 receptions and averaged 22.3 yards per kickoff return.