China is likely to persevere with tightening policies aimed at tackling surging inflation after the Chinese economy grew a robust 9.5 per cent in the second quarter from a year earlier, a mild slowdown from its first quarter pace.
Economic data released on Wednesday showed Chinese growth holding up well, defying those who feared government tightening measures could trigger a “hard landing” for the world’s second-largest economy.
After inflation hit a three-year high of 6.4 per cent in June, China’s central bank raised interest rates last week for the fifth time since October and has also raised the portion of deposits that banks must hold in reserve nine times over the same period.
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