BEIJING, June 14 China's factory output grew 6.5
percent in May from a year earlier, slightly better than
expectations, but fixed-asset investment grew 8.6 percent in the
first five months of the year, less than forecast.
Analysts polled by Reuters had predicted factory output
would grow 6.3 percent in May, easing slightly from 6.5 percent
growth in April.
Fixed asset investment had been forecast to grow 8.8 percent
over the first five months of the year, easing from 8.9 percent
Retail sales rose 10.7 percent in May from a year earlier,
unchanged from April and above analyst expectations for a 10.6
Growth of private investment slowed to 6.8 percent in
January-May from 6.9 percent in the first four months,
suggesting a slight weakening of the private sector's appetite
to invest as small- and medium-sized private firms still face
challenges in accessing financing.
Private investment accounts for about 60 percent of overall
investment in China.
China is targeting growth of around 9 percent in fixed asset
investment for 2017, and expects retail sales to increase about
China has cut its economic growth target to around 6.5
percent this year to give policymakers more room to push through
painful reforms and contain financial risks after years of
Beijing has continued to tighten the screws on riskier forms
of financing, which is expected to drag on the world's
second-largest economy in coming months after an unexpectedly
strong first quarter.
(Reporting by Kevin Yao and Lusha Zhang; Editing by Kim