China's GDP expands 7 pct in Q2

CNC
Added On July 16, 2015

Now, some latest economic data from China.

The National Bureau of Statistics (NBS) reported on Wednesday that China's economy grew 7 percent year on year in the second quarter, unchanged from the first quarter.
 
The growth rate beat a median market forecast of 6.9 percent for the second quarter, as authorities cited "positive signs" in the economy.
 
NBS spokesperson Sheng Laiyun said the better-than-expected growth come after the government's bold moves in macro-control and adherence to structural reforms.
 
These measures included three cuts in both benchmark interest rates and banks' reserve requirement ratio in the first half, and the government's accelerated fiscal spending on infrastructure to shore up investment.