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China's GDP growth beats forecasts expands 6.9pc in first quarter
CHINA's annual economic growth rate increased 6.9 per cent in the first quarter, according to government statistics, reported London's Financial Times.
Growth for the first three months of 2017 came in above Premier Li Keqiang's prediction that full year growth would be around 6.5 per cent.
Industrial production for March rose 7.6 per cent year on year, surpassing expectations of 6.3 per cent growth, while retail sales for the month jumped 10.9 per cent.
Fixed asset investment in the first quarter expanded 9.2 per cent, beating forecasts of 8.8 per cent. China has kept growth relatively robust thanks to rising corporate debt with credit growing at twice the rate of the economy, said the FT.
The country's overall indebtedness is creeping towards 300 per cent, most of it concentrated in the corporate sector, said the report.
Growth for the first three months of 2017 came in above Premier Li Keqiang's prediction that full year growth would be around 6.5 per cent.
Industrial production for March rose 7.6 per cent year on year, surpassing expectations of 6.3 per cent growth, while retail sales for the month jumped 10.9 per cent.
Fixed asset investment in the first quarter expanded 9.2 per cent, beating forecasts of 8.8 per cent. China has kept growth relatively robust thanks to rising corporate debt with credit growing at twice the rate of the economy, said the FT.
The country's overall indebtedness is creeping towards 300 per cent, most of it concentrated in the corporate sector, said the report.
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