China property investment, sales ease in Q2 but remain resilient to curbs

China property investment, sales ease in Q2 but remain resilient to curbs

China property investment, sales ease in Q2 but remain resilient to curbs

But in China, it was a slight slowdown: Credit was up 15.3 percent in May from a year earlier. But Xing Zhihong, a spokesman for the National Bureau of Statistics, said on Monday morning that this was a continuing project that had not been applied to the second-quarter growth statistics.

Some 178.73 million rural laborers were working outside their hometowns as of the end of June, up 2.1 percent compared with one year earlier.

In the first six months, however, growth in retail sales of consumer goods expanded to 10.4 percent from the same period a year ago, or compared with 10 percent in the first quarter of 2017.

The Communist Party Congress, which is held once every five years and chooses the country's top leadership, will be in mid-autumn.

Other data released by the statistics agency painted a rosy picture of the economy, with industrial production and fixed-asset investments both beating expectations.

This means that investment growth has already peaked in Q1, and a softening can be expected in the coming quarters, Commerzbank reported.

South Korea proposes military talks with North Korea to ease tensions
The vice defence minister did not elaborate on the meaning of hostile military activities, which varies between the two Koreas. But so far the Kim Jong Un government has rejected most of these overtures.

The growth rate, which compares expansion with the same three months in the previous year, was the same as in the first quarter of 2017.

"Generally speaking, the national economy has maintained the momentum of steady and sound development in the first half of 2017, laying a solid foundation for achieving the annual target and better performance". The string of growth will set the groundwork for the government to tackle economic challenges ahead of the re-selection of China's Central Committee later this year.

Economist Craig James said that based on the data, easing and tightening are really not necessary since inflationary pressures are very much contained therefore PBOC should just remain to be observant.

"However, we must be aware that there are still many unstable and uncertain factors overseas and long-term structural contradictions remain prominent at home", Xing said.

According to NBS, the service sector expanded 7.7 per cent year-on-year in the first half, outpacing a 3.5-per cent increase in primary industry and 6.4 per cent in secondary industry.

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