April to June gross domestic product data from China
6.9% for a beat
- expected 6.8%, Q1 6.9%
1.7% q/q (sa) in line and well ahead of Q1 growth
- expected 1.7%, prior 1.3%
YTD GDP 6.9% y/y
- expected 6.8%, prior 6.9%
Comments from China's stats department after the data:
- Economy continues steady, improving momentum in first half of 2017
- H1 economic growth lays a solid foundation for achieving the full-year GDP target
- Economy still faces uncertainties - international uncertainties, domestic structural problems
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Note: The GDP target this year is 'around 6.5%' (last year GDP was growth of 6.7%)