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China's economy gets off to strong start in 2017 as investment rebounds
China issued a raft of upbeat data on Tuesday showing the economy got off to a strong start to 2017, supported by strong bank lending, a government infrastructure spree and a much-needed resurgence in private investment. Solid growth is welcome news for China's policymakers as they turn their focus to containing risks from a sharp build-up in debt ahead of a major leadership reshuffle later this year. But economists are not sure how long the pace can be sustained as the central bank takes a tighter stance on credit and exporters brace for a surge in U.S. protectionism.
Fixed-asset investment expanded more strongly than expected in the first two months of the year as growth in private investment more than doubled from 2016, while surging demand for steel for new roads, bridges and homes lifted factory output.