China closed 2016 with GDP growth of 6,7%. In the fourth quarter alone, the acceleration was 6,8% (+1,7% on a quarterly basis). The result is better than expected: while remaining at the lowest levels since 1990 and below 6,9% in 2015, the GDP trend in 2016 remained within the five-year target of 6,5-7% annually defined by the government.
From the data of the National Statistical Office, consumption stands out, up by 9,6% from +10,6% in 2015, albeit with a final glimpse of acceleration (+10,9% only in December), confirming a trend in the consolidation phase and with further growth margins.
The economy, according to the Office, settled on "moderate structures that are still stable and solid", laying positive foundations for the launch of the five-year plan to 2020. Fixed investments, including infrastructure spending, rose by 8,1%, while the real estate component saw a leap of 6,9% against 1% in 2015. Corporate debt, however, rose to 169% of GDP.
In the wake of these numbers, the Chinese stock exchanges closed the session positive. The Shanghai Composite index rose by 0,70%, to 3.123,14 points, while that of Shenzhen gained 1,52%, settling at 1.885,78, around the intraday highs. Meanwhile, the yuan weakened today against the dollar: the central bank set the central parity at 6,8693, 125 basis points lower than yesterday.
