More Strong Data Puts China on Path to Meet FY13 Growth Target

September 10, 2013 6:54 AM EDT
Following news Monday that China's exports and imports are still faring well, the emerging market is also showing strength in production.

China's National Bureau of Statistics said that factory production in August rose 10.4 percent over the same period last year. Expectations called for a rise of 9.9 percent.

Along with production, retail sales improved 13.4 percent in August, while consensus views expected at 13.3 percent gain. Sales rose 13.2 percent in July.

Lending has also freed-up in China; aggregate financing hit 1.57 trillion yuan ($257 billion) last month, while expectations called for lending of 950 billion yuan.

China current has an expansion goal of 7.5 percent for 2013. Communist Party leaders will hold a meeting in November to go over policy reforms, which may include a focus on industrialization and urbanization to fuel growth.

The iShares FTSE/Xinhua China 25 Index (NYSE: FXI), iShares MSCI China Index (NYSE: MCHI), and SPDR S&P China (NYSE: GXC) ETFs are indicated higher early.

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