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Slower growth for China's property, financial sectors in Q4

Strong consumer spending, record bank lending contribute to better-than-expected GDP data

Published Sun, Jan 22, 2017 · 09:50 PM

Beijing

GROWTH in China's real estate and financial sector slowed in the fourth quarter of 2016, despite an uptick in the overall service sector that contributed to better-than-expected GDP growth in the quarter, National Bureau of Statistics (NBS) data showed on Saturday.

China reported on Friday that its economy expanded by 6.8 per cent in the fourth quarter thanks to strong consumer spending and record bank lending to stimulate the economy, despite rising debt concerns.