China’S Xi Trying To Prevent Financial Dangers From Blowing Up In His Face

The better-than-forecast economic data keeps Beijing on track to comfortably meet its 2017 growth target.
China’s economy grew faster-than-expected in the second quarter of 2017 yet President Xi Jinping is likely to remain wary of risks ‘blowing up in his face’, Andrew Collier, managing director of Orient Capital Research, told CNBC Monday.
“The overall message is Xi Jinping is desperate to avoid what he calls ‘risks in the system’ and what he means by that is he doesn’t want anything blowing up in his face before the party conference in the fall.
The Chinese economy grew 6.9 percent (year-on-year) in the second quarter to keep pace with the first quarter of 2017, according to the National Bureau of Statistics.
China reported stronger-than-expected economic growth data on Monday as the world’s second-largest economy was supported by robust industrial output, retail sales and exports.

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