Chinese growth beats expectations in Q2

BEIJING, July 16 (AFP): Chinese growth accelerated to a forecast-beating 7.5 per cent in the second quarter, official data showed Wednesday, as government stimulus provided a much-needed boost to the world's second-largest economy.
The April-June figure from the National Bureau of Statistics compared with 7.4 per cent in the previous three months and exceeded the median forecast of 7.4 per cent in a survey of 17 economists by the news agency.
But some analysts remain pessimistic about the full-year outlook given persistent concerns over the huge but troubled property sector.
"Generally speaking, China's economy showed good momentum of stable and moderate growth in the first half-year," NBS spokesman Sheng Laiyun told reporters. "However we should keep in mind that the domestic and international economic environment is still complicated and the national economy still faces many challenges."
The NBS also said China's economy expanded 7.4 per cent in the first half of the year.
The results come after Beijing introduced a series of policies since April in response to concerns over slowing growth, including tax breaks for small enterprises, targeted infrastructure spending and the encouragement of lending in rural areas and to small companies.