China third quarter GDP grows 6.7 percent as expected as construction booms, debt rises
China's economy expanded at a steady 6.7 percent in the third quarter and looks set to hit Beijing's full-year target, fueled by stronger government spending, record bank lending and a red-hot property market that are adding to its growing pile of debt.
Wednesday's data painted a picture of an economy that is slowly stabilizing but increasingly dependent on government spending and a housing boom for growth, as private investment and exports remain stubbornly weak.
Some economists believe Beijing has had to "double down" on stimulus this year to meet its official growth range of... read more
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