Asia markets soar as China Q2 growth beats forecast

Jul 17, 2017, 6:54 AM EDT
(Source: Aaron Goodman/flickr)
(Source: Aaron Goodman/flickr)

Despite a slew of tough measures to rein in debt and a housing bubble, China’s economy defied expectations by charting an annual growth rate of 6.9 percent between April and June.

The figures, signaling a growth rebound in the Chinese economy, filled Asian stock markets’ enthusiasm with India’s Sensex registering a gain of 0.4 percent, writes The Guardian.

The boost to GDP, driven by firm exports and production, put the economy on a strong footing allowing policy makers to diffuse financial risks ahead of scheduled overhaul in government top ranks later this year, notes Reuters.