China’s economy continued its heat wave in the second quarter, with growth of 11.3 percent (according to Forbes), driven in part by fixed asset investment, which was up 30.9 percent – despite continuing attempts to slow things down. Growth for the first half of the year was reported to be 10.9 percent.
The strong growth is causing concern at home and abroad and, combined with the record trade surplus figures (up 54.9 percent in the first half), has called recent cooling measures into question while adding to calls for currency appreciation, higher interest rates, and curbs on property speculation (as property accounts for nearly a quarter of fixed asset investment, according to a Bloomberg report).
The economy seems set for another long, hot summer.
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FOCUS – China posts strong Q2 growth, but plays down concerns on …
Forbes – USA
BEIJING (XFN-ASIA) – China reported a sizzling 11.3 pct growth in the second quarter, its fastest quarterly pace in over a decade, and gave few hints that the …
China Economy Probably Accelerated, Defying Government Curbs
Bloomberg – USA
July 17 (Bloomberg) — China’s economy, powered by record exports and an investment boom that the government is trying to slow, probably accelerated in the …