China's economy grows 6.9% in second quarter of 2017, beats estimates

Inflation drops to 16.10% — first time in 12 months

Nigeria: Inflation Falls Marginally

During the second quarter of 2017, the Chinese economy grew by 6.9% year-on-year to about 38.2trn yuan (£4.3trn, $5.6trn), beating analysts' prediction by 0.1%.

However, he did not expect that strength to last due to the recent crackdown on financial risks - which had led to slower credit growth.

The quarterly pace came up from 6.7 percent for the first three quarters of 2016 and 6.8 percent for the final quarter of previous year.

BEIJING, July 17 (Reuters) - China's real estate investment growth slowed slightly in the second quarter from the first, suggesting government curbs to rein in the red-hot property market are starting to hit speculators even though underlying demand remains resilient.

China's gross domestic product expanded 6.9 percent on year in the second quarter of 2017, the National Bureau of Statistics said on Monday.

Analysts had expected the world's second-largest economy to expand 6.8% in the April to June period.

These stronger-than-expected figures come amid the introduction of policies to reduce debt levels (and, by extension, investment), as well as property controls to subdue a potential bubble.

Meanwhile, retail sales in June increased by 11 per cent compared to the same month in 2016, and a month-on-month increase stood at 0.93 per cent.

It was well above the 6.5% pace recorded in the year to May, and breezed past expectations for unchanged reading for the month.

Despite the notion that China's GDP print retains a lack of transparency, markets around the region are likely to stay buoyed, say traders, should the high frequency industrial production, retail sales and fixed asset investment numbers - also released on Monday - track positively alongside GDP. Studies over the years have found that China's national statisticians appear to overstate growth during periods of economic weakness and understate growth when the economy is booming. A report on how - or if - the USA will react could come as early as this week.

"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.

Industrial production grew at a 7.6% year-on-year clip last month, after increasing by 6.5% in May (consensus: 6.5%).

Latest News