China Economy Grows by 6.8%

  • Increasing more than the expectation, the economy of China has grown 6.8% in the year's first quarter alone. Robust property investment and strong consumer demand have buoyed the economy's speed. Although the country is facing tensions due to rising trade with the US (its largest trading partner), it is making sure it maintains the economic balance. Iris Pang, the Greater China's economist, stated that “Consumption is really strong, there is strong wage growth in urban areas. We underestimated the power of consumption in China.” She added that “Property investment is actually rising so I would not conclude the property segment is derailing the economy.”