BEIJING, July 16 China's economy grew 7.5
percent between April and June from a year earlier, slightly
above expectations and quickening from the 7.4 percent pace in
the first quarter, reinforcing hopes that a recovery is under
way after a flurry of government stimulus measures.
Other data released alongside the gross domestic product
(GDP) report on Wednesday showed factory output rose 9.2 percent
in June from a year ago, beating expectations for a 9.0 percent
Fixed asset investment, a mainstay driver of the Chinese
economy, climbed 17.3 percent in the first six months compared
with a year earlier, above forecasts for a 17.2 percent rise.
Retail sales rose 12.4 percent in June from a year ago, in
line with analysts' predictions.
China's economy, the world's second-largest, got off to a
weak start this year as unsteady foreign and domestic demand
dragged on exports, investment and industrial output, prompting
the government to announce a slew of stimulus measures.
Many economists believe more policy support may be needed in
coming months to sustain any recovery, particularly if the
already cooling property market begins to deteriorate more
Premier Li Keqiang said last month that targeted growth of
7.5 percent for 2014 is a minimum level, reinforcing
expectations that Beijing is ready to roll out more stimulus if
(Reporting by Shao Xiaoyi and Koh Gui Qing; Editing by Kim