China's economic growth holds steady despite slowdown fears

Some of the biggest cities like Beijing have recently tried to curb real estate speculation with administrative limits

Gross domestic product (GDP) accelerated at an annualized 6.9% in April-June, the National Bureau of Statistics said.

Chinese economic growth topped expectations yet again in the June quarter with GDP expanding 6.9% from a year earlier.

Consensus estimates had pegged growth at 6.8 per cent, but a strong pick-up in quarter-on-quarter growth, from 1.3 per cent to 1.7 per cent, assured the headline measure remained unchanged.

The increase in the area of property sold also slowed to 14.1 percent in the second quarter year-on-year, from a 19.5 percent gain in the first quarter, Reuters calculation showed.

"If global demand for Chinese goods stays elevated, that will offset the curbs on growth that property and debt that the government has implemented", said Tao Wang, chief China economist at UBS.

The economy grew by 6.9 percent in the second quarter, the same pace as in the first quarter.

Retail spending and factory output were also bright spots in the first half.

Schumer: Cruz Amendment makes GOP health care bill even worse
But at least the pools provided a way for people with expensive or chronic health problems to have some form of health coverage. That meant the people left in the individual market were on average older, sicker, and more costly to insure.

Industrial output for June grew by 7.6%, well above the forecast 6.5%.

Meanwhile, retail sales in June increased by 11 per cent compared to the same month in 2016, and a month-on-month increase stood at 0.93 per cent.

President Xi Jinping called for tougher regulations to crack down on financial risks during a National Financial Work Conference, which sets the tone for reforms, according to the official Xinhua news agency. This means that investment growth has already peaked in Q1, and a softening can be expected in the coming quarters, Commerzbank reported.

China's economy lost momentum in the second quarter, a survey shows, as Beijing's efforts to curb risky lending and investment took a toll on the Asian powerhouse.

That is mostly a outcome of its efforts to reduce debt.

China's major stock indexes recouped sharp early losses on Monday as latest growth data from the world's second largest economy surprised on the upside, buoying earnings prospects for the country's companies.

"China's crackdown on low-end steel has left a capacity gap in the market", she said.

Related News:



Most liked

Beautiful Beyonce and her twins - The interesting story behind her dramatic dress
Polemo and his team only found out that Beyonce was pregnant after the sample was already sent to her. The piece is made from vintage silk organza from an old couture textile shop in Córdoba, Spain.

Top 5 memorable moments at IIFA Rocks 2017
Expressing his gratitude, the " Roja " hit-maker said, "I love the way people have supported me all these years and without them I'm nothing.

South Korea proposes reunion of separated families to the North
If the government meeting goes ahead, it will mark the first official inter-Korea talks since December 2015. Cho said this matter is not included on the talks agenda.

Najib: Malaysia condemns Israel's closure of Al-Aqsa Mosque
Several knives were reportedly discovered at the compound when it was searched by the security forces over the weekend. It said Waqf staff wouldn't be returning to the compound as well, the Jerusalem Post reported .

Fans get behind-the-scenes look at Star Wars with new video
Director Johnson was on hand to give interviews and spoke out on Carrie's final performance as General Leia. To me, the big enigma is what's going on with Luke Skywalker.

You must watch this Star Wars
Jedi Challenges, the headset immerses you in a Star Wars-themed universe where you can act out all manner of Star Wars fantasies. The video features visual effects and cast members talking to the camera and practicing fighting techniques.

Delta Reacts To Ann Coulter's Criticism, Twitter Supports Airline
Predictably, Coulter's fans lined up behind her and her critics defended and even praised Delta . She also said Delta gave her seat to someone who wasn't taller than her.

Minneapolis mayor demands answers after police kill Australian woman
Her stepson Zach Damond, 22, said she called police after hearing a noise near their house in the suburb of Fulton. Police say they were responding to an emergency call about a possible assault in an alley behind the home.

Ed Wood and Mission: Impossible star Martin Landau dead aged 89
The veteran of the Actors Studio , for which he was West Coast co-artistic director, had many ups and downs in his career. He went on to star in Mission: Impossible from 1966-1969, playing the role of "The Man Of A Million Faces", Rollin Hand.

Passengers evacuated from plane after someone 'passed gas'
The flight landed at the airport around 4 pm, and, after all the commuters were taken off the flight, an investigation followed. Authorities later said the incident was a "medical call" and directed all questions to Wake County Emergency Medical Service.

Default HTC 10 Keyboard App Begins Showing Ads To Users
Soon HTC users took to Twitter to express their disappointment, which ultimately invited flak for the Taiwanese company. According to commentators, HTC too seemed surprised has been asking users to uninstall TouchPal's updates .

Federer into 11th Wimbledon final; faces Cilic for 8th title
Martin is still recovering from last Sunday's crash and expects that his sensations will continue to improve as time passes. In kph, the average speed of stage victor Bauke Mollema in the last 30km of the stage after the Dutchman went solo.

Cathay General Bancorp (CATY) Position Raised by SG Americas Securities LLC
The Company's divisions include Flight Systems Group, Defense Systems Group, Space Systems Group and Corporate. Com Commercial Bank holds 0.01% of its portfolio in Cathay General Bancorp (NASDAQ:CATY) for 18,815 shares.

BJP's vice-presidential candidate from South India? Here are the possibilities
At the Opposition leaders' meet here today, Sonia Gandhi appealed the lawmakers from the non-NDA camp to vote for Meria Kumar tomorrow.

Seoul offers military talks with Pyongyang
China Customs said Thursday that the country's overall trade with North Korea had grown 10.5 percent in the first half of the year.