China’s economic growth held steady in the latest quarter, boosted by unexpectedly strong trade and consumer spending, despite fears tighter lending controls aimed at cooling a surge in debt are weighing on commercial activity.
Output rose 6.9 percent in the three months ending in June from a year ago, data showed Monday. That was in line with the previous quarter and better than many forecasts.
Communist leaders are eager to keep growth steady as they head into a ruling party congress at which President Xi Jinping is due to be reappointed as leader later this year. But the economy faces headwinds as Beijing clamps down on lending to rein in a surge in debt that has fueled fears it might harm the financial system or drag on growth.
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