China's economy continues to stabilise

CHINA's economy continued to stabilise last month, with the latest figures having come in as policy leaders started gathering behind closed doors to discuss economic policies and set targets for next year.

Industrial output growth fell slightly and retail sales and exports grew more than expected in November. Though growth shows signs of easing, this is in no way bad news for China, which needs to redefine its model and focus on achieving slower, more sustainable growth.

Investments were also on the low side last month. The statistical bureau said fixed-asset investment, a measure of government spending on infrastructure, grew 19.9 per cent year- on-year in the first 11 months of this year, compared to an increase of 20.1 per cent for the first 10 months.