China’s economy grew 5.2 per cent year on year in the second quarter as resilience in exports helped to offset sluggish domestic demand in the world’s second-largest economy.
The growth rate, which slightly exceeded the 5.1 per cent average estimate from analysts polled by Reuters but trailed the 5.4 per cent growth in the first quarter, positions Beijing to hit its full-year target of about 5 per cent.
China’s President Xi Jinping, who needs robust exports and manufacturing to offset a property slowdown that has weakened domestic demand, faces a crucial moment in the coming weeks as Beijing hammers out a final trade deal with the US.
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