The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 11.8 percent year on year to 149.05 trillion yuan by the end of June, the People’s Bank of China said in a statement on its website. Also, growth in the economy stabilized against the backdrop of pick up in lending and consumer spending.
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Fixed asset investment gained.0%, shy of forecasts for 9.4% and down from 9.6% a month earlier.
Industrial production in China jumped 6.2 per cent year on year in June, the country’s National Bureau of Statistics says.
Fixed-asset investment in non-rural areas of China climbed 9.0% on year in the January-June period, compared with an increase of 9.6% for the first five months of the year.
In the first six months, online sales surged by 28.2 percent year on year to 2.2 trillion yuan.
Growth of China’s industrial output picked up in June mainly thanks to strong performance in the high-tech and equipment manufacturing sectors, official data showed Friday.
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China’s economy grew 6.7 percent in the second quarter from a year earlier, steady from the first quarter and slightly better than expected as the government stepped up efforts to stabilise growth. Neither EconoTimes nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
