China GDP Growth Steadies At 6.4% In First Quarter
Beijing, (UrduPoint / Pakistan Point News - 17th Apr, 2019 ) :China's economy beat forecasts as it remained steady with 6.4 percent growth in the first quarter amid tepid global demand, a US trade war and a debt battle, official data showed Wednesday.
"The national economy enjoyed stable performance with growing positive factors and stronger market expectation and confidence, sustaining the momentum of progress in overall stability," the NBS said in a news release.
Top policymakers huddled in Beijing last month announced major plans to support the flagging economy, announcing massive tax cuts, fee reductions and financing support.
Beijing faces a delicate balancing act as it tries to support private businesses in need of credit without further inflating its debt balloon.
New credit flooded into the financial system last month, with the growth of bank loans and total outstanding credit accelerating, though analysts say it will take about six months to spark an economic turnaround.