latest-china-data-pushes-hsi-above-21000-points

Latest China data pushes HSI above 21,000 points

Loan growth might be slowing, but this doesn't herald the end of easy credit in China, according to economists.

China's National Bureau of Statistics yesterday flooded the market with new data relating to the health of the domestic economy. While the numbers were a little lower than expected, it was enough for investors to push the Hang Seng Index in Hong Kong to a 12-month high, at 21,074 points.

The headline figure for many observers was July's fixed asset investment FAI growth, which was up between 25% and 27%, according to Credit Suisse estimates. The reason for this, said the Swiss-bank in a research note, is that government-driven infrastructure spending has moderated, but FAI spending relating to housing is gaining pace.

Much of the FAI spending is driven by access to easy credit....

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