China’s Demand May Weaken Case for Holding Back Yuan
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Evidence of strengthening domestic spending in China undermined the case for Premier Wen Jiabao’s government to resist a faster pace of currency appreciation days before U.S. lawmakers meet to address the issue.
Industrial production rose 13.9 percent in August from a year before, the most in three months, and retail sales and lending figures topped economists’ estimates, statistics bureau and central bank data released Sept. 11 in Beijing showed. Imports also accelerated, in another sign Chinese growth is picking up after a second-quarter moderation.