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China factory output rises, investment up

China's factory output has grown 6.4 per cent in July from a year earlier and fixed-asset investment has expanded 8.3 per cent for the year.

China's factory output has grown 6.4 per cent in July from a year earlier while fixed-asset investment has expanded 8.3 per cent in the first seven months of 2017.

Analysts polled by Reuters had predicted factory output growth of 7.2 per cent in July, easing from 7.6 per cent in June.

Fixed-asset investment had been forecast to grow 8.6 per cent during the first seven months, the same pace as in January-June.

Retail sales rose 10.4 per cent in July from a year earlier, cooling from June's 11 per cent pace and also failing to meet analysts' expectations for a 10.8 per cent rise.

Growth of private investment slowed to 6.9 per cent in January-July from 7.2 per cent in the first half of the year, suggesting small and medium-size private firms still face challenges in accessing financing.

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Private investment accounts for about 60 per cent of investment in China.

China is targeting annual economic growth of about 6.5 per cent this year, down from the 6.7 per cent pace clocked in 2016.

Economists say Beijing will handily meet its 2017 growth target after stronger-than-expected growth of 6.9 per cent in the first half of the year.


2 min read

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Source: AAP



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