The Chinese economy is growing faster than all expectations

Share

The high-tech and equipment manufacturing sectors are leading the country's industrial growth, with year-on-year output increases of 13.1 percent and 11.5 percent in the first half, respectively, compared with a 6.9 percent rise in overall output.

Onshore yuan rose for a sixth day on Monday after China's central bank raised the currency's daily reference rate amid a declining U.S. dollar and after the release of China's GDP data.

With two quarters of GDP expansion at 6.9 percent against a lower full-year target, the Chinese government will now have greater tolerance of slower growth in the second half of the year, said Aidan Yao, emerging Asia economist at AXA Investment Managers.

Ways to Maneuver on North Korea
Washington has said talks of easing sanctions would take place only if North Korea agrees to cease weapons proliferation. Figures show trade between China and the North totaled more than $2.5 billion during the first six months of 2017.

We can credit unexpected strength in the real estate market which has kept growth humming now for the past year (see separate story) and solid industrial production for the quarter, especially in the month of June.

So China's leaders have been eager to keep the economy growing briskly at least until then.

China's ruling Communist Party has focused on keeping the economy stable ahead of a reshuffle of its top leadership in the fall, when President Xi Jinping will start his second term.

AAA: Gas prices increase in RI, Mass.
One thing that could affect prices is an upcoming special meeting July 27 by the Organization of Petroleum Exporting Countries. This time of year has historically seen a wide range of gasoline prices, but recently prices have remained fairly steady.

Interpreting the conference, China Merchant Securities said in report that "the high-valuation bubble is bursting" as the pace of initial public offerings will accelerate. Housing prices have surged in the past 15 months, ever since the government decided during a period of economic weakness in early 2016 to make it much easier for families to borrow for home buying. Industrial output, which rose 7.6% from the same period previous year, paced the GDP gains, while an 11% surge in retail sales underscored the strength of the domestic consumer economy.

Confidence in the robustness of the recovery was not universal, however. This means that investment growth has already peaked in Q1, and a softening can be expected in the coming quarters, Commerzbank reported.

On a quarterly basis, GDP was up 1.7 percent - in line with expectations and up from 1.3 percent in the three months prior.

RuneScape Finally Going Mobile, Early Registrations Now Open
A full release of the mobile port is expected in Winter 2017, and a port of the "newer" RuneScape 3 is set to be released in 2018. According to Jagex , the mobile version of RuneScape will be the same game "you know and love", optimized for phones and tablets.

President Donald J. Trump promised during his campaign to create more United States jobs through a more confrontational approach on trade toward China.

Share