Written by Nathasha De Alwis
17 Apr, 2018 | 4:00 pm
China’s economy grew at a slightly faster-than-expected pace of 6.8% in the first quarter, compared to the same period last year.
The growth figures for January to March were also above Beijing’s 2018 annual growth target of “around 6.5%”. Resilience in the world’s second-largest economy will likely help keep a synchronized global recovery on track for a while longer, even as China faces rising trade tensions with the United States that could impact billions of dollars in business.
The Government has been fighting to contain ballooning debt and a housing bubble without hurting growth. But economists still expect China will lose some momentum in coming quarters as Beijing forces local governments to scale back infrastructure projects to contain their debt, and as property sales cool further due to strict government controls on purchases to fight speculation.
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