China's economy will cool this year-but it's a good thing

China's economy will cool this year-but it's a good thing

"The national economy has maintained the momentum of stable and sound development and exceeded expectations", National Statistics Bureau (NSB) director Ning Jizhe said in his report yesterday. And export growth reached 10.8 percent previous year, compared with a 2 percent decline in 2016.

President Xi Jinping signaled in October that he wanted to address some of these chronic problems and that the country should no longer emphasize maximizing economic growth at nearly any cost.

It's also a slight uptick from a year ago, when the country's gross domestic product (GDP) was announced to have grown 6.7 percent in 2016, the lowest figure in decades.

"GDP growth has had a very, very special status in China".

China's equity markets were broadly welcoming of the news. The investment activity was bolstered by increased spending by local governments in the leadup to the Communist Party congress in October as they worked to prop up growth figures to tout at the twice-a-decade meeting. According to economists the sustainable external demand and strong household consumption will support the country's economy.

Fourth-quarter GDP grew at annualised pace of 6.8 per cent, which was in line with the third-quarter outcome.

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On the contrary, United are in impeccable away form, going five unbeaten (4W 1D), in a stretch dating back to early November. Nemanja Matic and Paul Pogba slot into midfield, while Juan Mata , Anthony Martial and Jesse Lingard support Romelu Lukaku .

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He said some of Trump's dealings exhibited "the patterns of activity that we thought might be suggestive of money laundering". He said he was not aware of Steele paying any of his sources, while defending his methods of gathering information.

The 7.5 per cent increase is nearly double the rate in the previous year, although the total figure of 16.47 trillion yuan (USD 2.56 trillion) is within Beijing's target of below 18.82 trillion yuan.

Meanwhile, China's household debt, while still low, has risen by 15 percentage points of its GDP over the past five years, and is increasingly linked to asset-price speculation, according to a report issued by the International Monetary Fund in December.

"China's growth is very healthy", said Iris Pang, Greater China Economist, ING, Hong Kong. At the same time, retail sales logged an annual growth of 10.2%.

While growth accelerated in 2017, the quality of that growth has also improved.

This better than expected data will make the investors around the world happy, as China is leading country as far as the global economy is concerned. Coupled with an even tougher environmental crackdown, this year could see economic growth slowing once again.

Chinese policymakers have been trying to contain financial risks and slow an explosive build-up in debt without stunting economic growth.

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