China postpones its hard landing

Fears of a downturn in the Chinese economy have been put off - at least for now.

Signs of mounting strength in China's economy cheered global markets this week. Exports rose by 7.2% year-on-year in August, helped by stronger growth abroad. August's trade surplus was the highest for that month since 2008. The annual rate of consumer price inflation edged down by 0.1% to 2.6%. Producer price deflation eased to -1.6% on an annual basis.

Industrial production accelerated by 10.4% year-on-year, the fastest annual pace since March 2012. Retail sales growth ticked up to 13.4%. Forecasters now reckon the government will have little trouble meeting its 7.5% GDP growth target for this year.

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