AFP, Beijing :
China’s economy grew in the first three months of 2016 at its slowest quarter-on-quarter rate since it began releasing the data, the government said, while the real-estate sector rebounded thanks to aggressive stimulus.
The world’s second-largest economy expanded 1.1 percent in January-March over the last quarter of 2015, the slowest pace since it started publishing such statistics in early 2011. The result follows 1.5 percent growth in the previous three months and 1.8 percent in July-September.
The figures came after the National Bureau of Statistics published its on-year figures Friday, which matched expectations, while foreacst-beating March data offered signs of recovery in the Asian economic giant.
The recovery of the property sector-long a pillar of China’s economy-helped to fuel growth, analysts said, as real-estate services grew 9.1 percent year-over-year, accounting for 6.8 percent of GDP.
The data show that China has returned to “property-led growth” and suggest “recent growth momentum has been underpinned by the resurgence of (the) ‘old economy'” ANZ analysts said in a note Monday.
China’s leaders are looking to manage a difficult transition away from the investment- and export-led model of the past to an economy more driven by consumer demand, but the change is proving bumpy and global markets have fretted over the outlook.
China’s economy grew in the first three months of 2016 at its slowest quarter-on-quarter rate since it began releasing the data, the government said, while the real-estate sector rebounded thanks to aggressive stimulus.
The world’s second-largest economy expanded 1.1 percent in January-March over the last quarter of 2015, the slowest pace since it started publishing such statistics in early 2011. The result follows 1.5 percent growth in the previous three months and 1.8 percent in July-September.
The figures came after the National Bureau of Statistics published its on-year figures Friday, which matched expectations, while foreacst-beating March data offered signs of recovery in the Asian economic giant.
The recovery of the property sector-long a pillar of China’s economy-helped to fuel growth, analysts said, as real-estate services grew 9.1 percent year-over-year, accounting for 6.8 percent of GDP.
The data show that China has returned to “property-led growth” and suggest “recent growth momentum has been underpinned by the resurgence of (the) ‘old economy'” ANZ analysts said in a note Monday.
China’s leaders are looking to manage a difficult transition away from the investment- and export-led model of the past to an economy more driven by consumer demand, but the change is proving bumpy and global markets have fretted over the outlook.
