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China Posts 7% Growth in Second Quarter
China reports an unexpectedly strong 7% expansion in gross domestic product for the second quarter of 2015, matching first-quarter growth.
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China reports an unexpectedly strong 7% expansion in gross domestic product for the second quarter of 2015, matching first-quarter growth.
Economists had expected GDP to gain about 6.8%, and many question the accuracy of the latest statistics. Analysts say China's growth in April-June was driven by the service sector, including a surge in brokerage fees from the country's tumultuous stock market activity in late June.
Beijing has been lowering interest rates, offering tax breaks and taking other steps to stabilize the Chinese economy and maintain what it describes as a sustainable growth rate.
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