The Chinese economy is expected to grow by 6.7% in Q2 2018, revised down from the 6.8% reported in Q1, as the government continues clamping down on riskier finance deals. In a separate report released today, HSBC said that its China retail banking business has been hit hard by tighter capital controls and higher interest rates. However, property sales fell, and the think tank noted that a rebound in industrial output may be hit by the trade dispute with the US. Economists expect a continued slowdown to around 6.5% as dollar-denominated exports grow by 8%, and imports rise by 10%.
The Chinese economy is expected to grow by 6.7% in Q2 2018, revised down from the 6.8% reported in Q1, as the government continues clamping down on riskier finance deals. The State Information Centre, a think tank linked to the National Development and Reform Commission, reported growth in retail sales and fixed asset investment. However, property sales fell, and the think tank noted that a rebound in industrial output may be hit by the trade dispute with the US. Economists expect a continued slowdown to around 6.5% as dollar-denominated exports grow by 8%, and imports rise by 10%.