Housing sector helps China beat Q4 growth forecasts with 6.8% expansion
But debt risks loom; cooling housing market, structural reforms could hit near-term growth
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Beijing
CHINA'S economy grew a faster-than-expected 6.8 per cent in the fourth quarter, boosted by higher government spending and record bank lending, giving it a solid tailwind heading into what is expected to be a turbulent 2017.
But Beijing's decision to raise spending to meet its official growth target could exact a high price, as policymakers grapple with financial risks created by an explosive growth in debt.
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