Economics
China Posts First Full-Year Growth Pickup Since 2010
- Economy ‘breezing past potential speed bumps’: HSBC’s Neumann
- Global trade supporting demand as Beijing tackles debt risks
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China’s economy sealed its first full-year acceleration since 2010, underpinning global growth and giving authorities more room to purge excessive borrowing.
A reflation of the industrial sector and a global upswing that’s boosting exports are providing room for President Xi Jinping to tackle debt risks, one of Beijing’s top goals for the coming three years. With consumer inflation still contained and the currency firm, the central bank has been able to tighten the screws in some areas without benchmark interest rate increases, though a minority of economists are beginning to anticipate such a move.