Lending and spending lift Chinese growth

6.7 per cent second-quarter figure beats expectations

15th July, 2016
Chinese growth on track to hit government target Pic Getty

China’s economy stabilised in the second quarter of 2016 as lending and consumer spending perked up late in the June quarter, suggesting the world’s second-largest economy is responding to stepped up government support.

Gross domestic product rose 6.7 per cent from a year earlier, compared with 6.6 per cent expected by economists Bloomberg surveyed and in line with the government’s growth target of at least 6.5 per cent for the full year.

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