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CHINA has posted second quarter GDP growth of 6.7 per cent reported CNBC News, slightly lower than the 6.8 per cent gain in the first quarter of 2018.

 

The barely perceptible decline was ascribed to Beijing's crackdown on risky credit practices. But the official reading was in line with expectations from analysts polled by Reuters.

 

Trade tensions between China and the US have weighed on sentiment, particularly as the property market is slowing in first-tier cities such as Beijing and Shanghai, said Commerzbank analyst Hao Zhou.

 

"I think it's a little bit tricky at this moment. On the one hand, China commits to financial deleveraging. On the other hand, China sees growth moderation and growth slowdown is a risk for the economy as well," said Mr Zhou.

 

Fixed asset investment growth for the first half of 2018 was a record low at six per cent from a year ago, while industrial output for June matched the slowest growth rate in over two years at six per cent, according to Reuters' records.

 

Although Beijing's official GDP figures are closely watched as an indicator of the health of the world's second-largest economy, many outside experts have long expressed skepticism about the veracity of China's reports.

  • 2018-07-19

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