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China: Property sales, data shows sturdy economy
March 14, 2017, 3:41 pm

A slew of data shows that the Chinese economy is regaining momentum of years past [Xinhua]

Goldman Sachs chief China strategist Kinger Lau has told Chinese media that the flow of investment fund from China to Hong Kong will jump by nearly 70 per cent in 2017 from last year.

The flow of investment funds from the mainland has already reached $8 billion in the first two months of 2017 but is expected to hit $54 billion.

The amount invested in two cross-border stock links last year was $32 billion.

The announcement comes as the National Bureau of Statistics (NBS) reported that the Chinese economy got a shot in the arm in the first two months of the year thanks to a rise in property sales in late 2016.

It said commercial property sales spiked 26 per cent.

The NBS also said that industrial output for the same period jumped 6.3 per cent year on year.

This follows a February report from China’s General Administration of Customs (GAC) that exports in January surged 7.9 per cent year on year.

GAC said this was the highest rate in two years; it also beat forecasts and suggests the economy may be steadily back on track.

The preliminary figures mark a reversal of December’s downward trend when the GAC reported that exports had fallen 6.1 per cent.

The BRICS Post with inputs from Agencies

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