China Growth Exceeds Expectations in 2017

China’s economy grew by 6.9% in 2017 according to official data – the first time in seven years the pace of growth has picked up.The figure beats Beijing’s official annual expansion target of about 6.5%.China is a key driver of the global economy and so the better-than-expected data is likely to cheer investors around the world.But many China watchers believe the GDP numbers are much weaker than the official figures suggest.This month alone, the governments of Inner Mongolia and of the large industrial city of Tianjin have admitted their economic numbers for 2016 were overstated.

Source: China’s economy grows by 6.9% in 2017 – BBC News

APAC currency wrap

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.