China’s economy grows 6.9 per cent in second quarter, beating market expectations
PUBLISHED : Monday, 17 July, 2017, 10:12am
UPDATED : Monday, 17 July, 2017, 10:12am
China’s economy grew 6.9 per cent in the second quarter from a year earlier, faster than expected and in line with the first quarter’s growth.
Analysts polled by Reuters had expected the economy to expand 6.8 per cent in the April-June quarter, slightly slower than the pervious quarter’s robust 6.9 per cent pace.
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.
Many analysts expect the world’s second-largest economy to lose steam later in the year as policy measures to rein in red-hot housing prices and a rapid build-up in debt take a greater toll on growth.
Gross domestic product (GDP) in April-June grew 1.7 per cent quarter-on-quarter, compared with growth of 1.3 per cent in January-March, the National Bureau of Statistics said on Monday.
Analysts had expected quarterly growth would quicken to 1.7 per cent.
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