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China Economic Expansion Exceeds Estimates on Factory Rebound

  • 2Q GDP expands 6.9% YoY, matching robust momentum in 1Q
  • Retail sales, investment, industry output all beat estimates
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China 2Q GDP Exceeds Estimates

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China’s economy maintained its momentum last quarter, as global trade and domestic demand spurred a pickup at the nation’s factories.

The expansion highlights the resilience of China’s economy, as activity has remained robust even as policy makers have tried to curb excessive and speculative borrowing, leading to a slowdown in money supply growth. Synchronized growth in most developed markets has meant that exports have helped to keep the expansion on track, and the effects of a cooling property market are yet to kick in. The statistics bureau said the result "provides a solid basis" for meeting the full-year growth target of 6.5 percent or above.