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How to Invest in China’s New High-Tech Economy
By Advisor Perspectives
There have been recent fears among economists and investors alike that China’s debt-fueled economy would contract as it transitions from old-school manufacturing to services, but the Asian giant has been far more resilient than most anticipated. Its gross domestic product (GDP) for the second quarter rose 6.9 percent over the same period last year, beating expectations and putting the country on track to meet the International Monetary Fund’s 2017 growth forecast of 6.5 percent.
June economic data was particularly robust. Services were among the main contributors to growth, rising 7.7 percent year-over-year. Industrial production accelerated 7.6 percent during the month. Exports rose 11.3 percent compared to June 2016, totaling nearly $200 billion.
Read more at Advisor Perspectives.