Business

China consumption contributed less to 2016 growth

China consumption contributed less to 2016 growth

China's economy grew 6.7% on the year for 2016, according to data released Friday by the National Bureau of Statistics. Fixed-asset investment among the public sector grew just 3.2% on the year in 2016.

Reuters reported that economists had expected China to report 6.7 percent growth for both the fourth quarter and the full year.

While fixed-asset investment provided key support for the world's second-largest economy a year ago, debt-riddled government led projects are also creating more risk for the nation.

Retail sales jumped an annual 10.9 percent in December, beating forecasts 10.7 percent and up from 10.8 percent in the previous month.

Have a terrific weekend.

"Real estate investment growth may slow from 6.6% in 2016 to 1% in 2017, and regional divergence likely will continue", Haibin Zhu at J.P. Morgan noted in a report. Services, which accounted for more than half of output for the first time in 2015, made up 51.6 percent past year, official data showed.

At the World Economic Forum in Davis on Tuesday Chinese President Xi Jinping warned that China's economy "faces downward pressure and many difficulties".

Nick Viall Has Some Explaining to Do on Monday's "The Bachelor"
She and Nick share an intimate slow dance together on stage at the concert while being serenaded by the Backstreet Boys. That evening also happened to be my birthday, and I think she was trying to channel her inner Marilyn Monroe.

For the year, consumption contributed almost 65 percent of growth, indicating the much-touted switch to consumption-driven growth may be building momentum.

In each of the first three quarters of 2016, China posted a consistent 6.7% increase in GDP, raising doubts about the veracity of the figures.

Chinese corporate debt has risen to 169 per cent of GDP, while global institutions have been urging China to deal with the problem of over-leveraging in order to avoid a financial crisis.

He told the Reuters news agency: "The key risk to the Chinese economy in 2017 and 2018 is the possibility that faster than expected United States interest rate increases could intensify Chinese capital outflows and increase stresses on China's financial system".

With the International Monetary Fund predicting only 3.1 percent global growth for 2016, China's contribution would account for more than one-third of the world's growth.

The reading was slightly down from the 8.2 percent growth for the first three quarters, the National Bureau of Statistics (NBS) said.


  • Theresa May to become first PM on the cover of American Vogue

    It appears the prime minister secretly posed for renowned photographer Annie Leibovitz in a photo shoot at Chequers past year . Ms May's footwear has also attracted comment and she is often seen in brightly coloured kitten heels.

    U.S. Retail Sales Growth Falls Just Short Of Estimates In December

    Ultimately, $112.9 billion were spent in non-store sales, resulting in a near 13% percent rise from 2015's numbers. USA businesses stockpiled more goods in warehouses and on store shelves in November as sales improved slightly.

    Head of DC National Guard ordered to resign during Trump inauguration

    Unlike in the states, where the governor appoints the National Guard commander, in the District that duty falls to the president. Regardless, an interim replacement is already lined up and he will take over the moment Schwartz steps down on January 20.
  • Music's biggest stars announced to perform at the Grammys

    Music's biggest stars announced to perform at the Grammys

    As she belted out " All I Ask " a microphone fell onto the piano, resulting in a clanging sound. CBS has confirmed that Adele will be performing at the Grammy Awards.
    18atcskd2w was one of the most popular passwords in 2016 - really!

    18atcskd2w was one of the most popular passwords in 2016 - really!

    Consumers tell us that they are struggling to remember what is now an average of over 100 passwords in Europe. The second most-used password was 123456789, according to Keeper, followed by the predictable qwerty .

    Anti-Trump protests to kick off with Washington civil rights march

    Compare that to the turnout for Barack Obama's inaugurations , which drew crowds of 1.8 million in 2009 and one million in 2013. The District Department of Transportation says 393 applications have been filed for buses to park at RFK Stadium on January 20.
  • Jordy Nelson, Davante Adams, Geronimo Allison listed as questionable

    Jordy Nelson, Davante Adams, Geronimo Allison listed as questionable

    In the regular-season mindset, I would think none of them would play in this game. "They're mentally getting ready". If it happens, we'll see how it goes. "That's what we're going to need the full week for a couple of these guys".
    Russian Federation  to Be Represented at Paris Conference: Lavrov

    Russian Federation to Be Represented at Paris Conference: Lavrov

    Netanyahu insists the conflict can only be resolved in direct peace talks and has repeatedly called on Abbas to resume them. Hollande said earlier that the conference aims at reviving the global community's support for a two-state solution.
    Man who sailed with daughter from New Zealand to Australia charged

    Man who sailed with daughter from New Zealand to Australia charged

    The story Girl reunited with mother in Ulladulla after epic sail first appeared on Illawarra Mercury . Safe: Mr Langdon is said to be an experienced sailor (he is pictured on the catamaran).
  • Pro-cannabis group hands out thousands of free joints in Washington

    Pro-cannabis group hands out thousands of free joints in Washington

    They started handing the joints out at 8 a.m., and around 10:45 a.m., the group started walking toward the National Mall. All recipients of cannabis at the DCMJ "pot-luck" were verified to be at least 21 years old.
    Gladys Berejiklian Confirms She Will Be Standing For NSW Premier

    Gladys Berejiklian Confirms She Will Be Standing For NSW Premier

    He faced tough criticism a year ago though for his stance on new lockout laws in Sydney, which saw protests across the city. Prime Minister Malcolm Turnbull thanked Mr Baird for his time in office, saying he "played a great innings".
    Family of Oscar Lopez Rivera celebrate his commutation in Humboldt Park

    Family of Oscar Lopez Rivera celebrate his commutation in Humboldt Park

    Parole Commission denied his request for an early release. "One of the things he said was: 'Tomorrow's my daughter's birthday". Her sentence is now set to expire May 17.