Friday, 15 April 2016

Chinese economy stabilises in first quarter

Data on Friday showed that China's economy stabilised in the first quarter.

Gross domestic product rose 6.7 percent in the first quarter from a year earlier while new credit, industrial output, fixed-asset investment and retail sales all picked up in March.

A report on Wednesday had shown that Chinese exports grew in March from a year earlier, the first increase since June.

However, the "rapid expansion of credit continues to cause worries and show just how precarious the Chinese economy really is", according to Christopher Balding, an associate professor at the HSBC School of Business at Peking University in Shenzhen.

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