China's economy grows 6.9% in second quarter of 2017, beats estimates

China's consumer price index rises 1.5 percent year-on-year in June 2017

China's consumer price index rises 1.5 percent year-on-year in June 2017

China's nationwide survey-based jobless rate was below 5 percent in June, with 7.35 million new urban jobs created in the first half of the year, the statistics bureau said on Monday.

But China's speedy growth - an uptick from the 6.7% it recorded a year ago - will be hard to sustain in the months to come, analysts say, as the government focuses on reining in the country's rapidly ballooning debt.

The government is aiming for growth of around 6.5 percent in 2017, slightly lower than last year's actual 6.7 percent, which was the weakest pace in 26 years.

While China's first-half economic achievement was "hard won", more positive changes in the second half are expected, National Statistics Bureau spokesman Xing Zhihong told reporters.

Debt-fuelled investment in infrastructure and real estate has underpinned China's growth for years but warnings of a potential financial crisis have spurred Beijing to clamp down.

"But global instability and uncertainties are still relatively large, and the domestic long-term buildup of structural imbalances remains".

GDP increased 1.7% quarter-on-quarter, faster than the 1.3% quarter-on-quarter pace reported in the first quarter.

ITV appoints easyJet's McCall as CEO
She also sits on the board of the Department of Business, Energy and Industrial Strategy and is a Trustee at the Royal Academy. McCall has also held non-executive director roles with Lloyds TSB (2008-09), Tesco (2005-08) and New Look (1999-2005).

Economists polled by Reuters expect the economy grew 1.7% between April and June-an annualised rate of 6.8%.

Nevertheless, "it is a bit strange" that the growth exceeded many expectations, he said.

On Friday, customs data showed that China's foreign trade accelerated in June, adding to generally strong trade data in the first half of the year.

"The biggest risk is the credit and loan risk of enterprises", Hu said.

Chinese authorities release a raft of economic data today, including GDP growth, industrial output and retail sales.

Fixed asset investment gained 8.6 percent on year - unchanged from the previous month and beating forecasts for 8.5 percent.

President Xi Jinping attended the National Financial Work Conference (NFWC) - an important policy making event - over the weekend, where there was a focus on managing financial risks.

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