China | Policy-led growth moderation coupled with mitigated financial risks

Summary

China’s Q3 GDP growth declined to 6.8% from its 6.9% y/y reading in 1H. It suggests that after registering a stronger-than-expected growth in 1H, the economy showed more signs of moderation in Q3 due to the authorities’ policy initiatives. These policies include the continuing prudent monetary policy and the regulatory tightening on shadow banking and property market.

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