Market updates on July 16
Welcome to Tuesday!
Chinese economy is braced for slowing to 6.5% in 2018
China's economy is supposed to cool in 2018 because a government-led crackdown on debt risks as well as factory pollution affect overall activity, as a Reuters survey disclosed on Tuesday.
For two years Beijing is pursuing a relentless campaign to wean the Asian country off its debt-heavy investment model, vigorously clamping down on everything, ranging from shadow-bank financing activities to speculative property lending because policy makers seek to foster sustainable longer term surge.
It has spurred borrowing costs and also taken some of the momentum off the world's number two economy, in particular in the final months of the previous year, with surge estimate at 6.5% this year, according to market experts from 70 institutions polled by Reuters.
It was moderately above the survey’s October estimate of 6.4% expansion, although it would still lag the poll’s 2017 estimate of a 6.8% GDP soar.
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