China’s economy posts 6.7% growth in Q1
China’s economy stabilized in the first quarter and accelerated in March due to an improvement in the property sector led by new credits. Stabilization was supported by higher retail sales, industrial output and fixed-asset investment. However, some economists argued that the revival in the economy may not be sustainable as the expansion is fed by easy credit while debt levels continue to rise.
Home sales increased 71% in March while real estate investment surged 6.2% in the first quarter from a year earlier. Meanwhile, fixed asset investment increased 10.7% on higher property construction. Industrial output expanded 6.8% in March from a year earlier while retail sales rose 10.5%.
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