BEIJING — China’s economic growth stayed relatively stable in the latest quarter, buoyed by strength in retail spending and exports, giving the ruling Communist Party a boost as it prepares to appoint President Xi Jinping to a new term as leader. Growth has been unexpectedly strong this year, but forecasters expect activity to weaken as Beijing tightens controls on bank lending to cool a rise in debt cited by analysts as the biggest threat to China’s economic stability. Communist leaders are trying to steer China to slower, more sustainable growth based on consumer spending instead of exports and investment. Reform advocates say that might waste money and drag on economic growth. The International Monetary Fund has forecast China’s full-year growth will hold steady at last year’s level of 6.7 per cent.

Source: National Post October 19, 2017 02:14 UTC