China's economy grew faster than expected in the second quarter as industrial output picked up and investment remained strong, though analysts expect growth to slow over the remainder of the year as policymakers seek to reduce financial risk.
The economy grew 6.9 percent in the second quarter from a year earlier, the same rate as the first quarter, the National Bureau of Statistics said on Monday. Analysts polled by Reuters had expected the economy to expand 6.8 percent in the April-June quarter.
Growth in China's economy this year has beaten expectations as exports recover and property construction booms, though many analysts expect the world's second-largest economy to lose steam later in the year as policy measures to rein in red-hot housing prices and a rapid build-up in debt take a greater toll on growth.
"Overall, the economy continued to show steady progress in the first half...but international instability and uncertainties are still relatively large, and the domestic long-term buildup of structural imbalances remain," the statistics bureau said in a statement with the data.
Reference: Reuters
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