China Fends Off Trade Trouble With 6.8% Growth

China Fends Off Trade Trouble With 6.8% Growth

However, industrial production dropped to a Y/Y rate of 6 per cent in February from 7.2 per cent the previous month.

Investment in real estate, a crucial driver of the economy, accelerated to 10.4 per cent in the first quarter - the fastest pace in three years.

On a quarterly basis, GDP in the first quarter grew 1.4%, compared with revised growth of 1.6% in October-December, the National Bureau of Statistics said.

Risks to the Chinese economy in 2018 include trade protectionism as U.S. President Donald Trump's administration bares its teeth to address the yawning trade gap between the two countries.

If both countries proceed to implement proposed tariffs on each other's products, it could imperil the stable economic growth Xi is seeking in order to attain his government's goal of building a "moderately prosperous society" in the world's most populous nation. China's economic growth held steady at 6.8% over a year earlier in the quarter ending in March.

In addition, fixed asset investment growth from January to March slowed to 7.5 percent year-on-year, lower than the 7.9% in the first two months of 2018. Online retail sales surged 35.4 percent on the back of the rapid spread of e-commerce shopping.

Beijing is looking to keep the economic balancing act intact even as it faces rising trade tensions with its largest trading partner, the United States, that could impact billions of dollars in cross-border trade.

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