November 14, 2017 / 2:48 AM / a year ago

China stats bureau says fixed-asset investment growth could quicken

BEIJING (Reuters) - China’s fixed-asset investment growth could quicken, the country’s statistics bureau said on Tuesday, after a deceleration in January-October suggested Beijing has pared back some stimulus.

Fixed-asset investment growth slowed to 7.3 percent in the first 10 months, the National Bureau of Statistics (NBS) said earlier in the day. Analysts had expected a rise of 7.4 percent.

The economy was resilient in the first half partly due to a government-led infrastructure spending spree. But growth has since slowed as Beijing reined in a red-hot property market and cracked down on lending to fend off financial risks.

Economic growth is within a reasonable range, Liu Aihua, a spokeswoman at NBS, told reporters.

Gross domestic product grew 6.8 percent in the third quarter, a touch slower than the 6.9 percent pace in the first two quarters.

Reporting by Kevin Yao; Writing by Ryan Woo; Editing by Shri Navaratnam

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