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China’s Economy Grew Steadily, Thanks to Loans and Homes

Oct 19 , 2017

China turned to a tried-and-true recipe to cook up another three months of respectable growth.

Heavy lending by state-owned banks, brisk government spending and strong exports helped keep China’s economy growing briskly and steadily. China’s statistical agency said on Thursday that the economy had grown 6.8 percent in the July-to-September period, compared with the same quarter a year ago.

President Xi Jinping had put heavy pressure on practically every government ministry to make sure that the economy put in a solid performance. The Chinese Communist Party’s twice-a-decade congress began this week, and it’s a time when the country’s leaders want predictability and an image of strength.


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