BEIJING Dec 13 China's factory output and
retail sales grew faster than expected in November, while
fixed-asset investment was in-line with forecasts, adding to
growing signs of stabilisation in the world's second-biggest
Factory output grew 6.2 percent from a year earlier,
slightly better than analysts' forecasts and October's reading.
Retail sales climbed 10.8 percent, the fastest pace since
December 2015 and beating expectations for a 10.1 percent rise.
After a rocky start to the year, China's economy has
performed better than expected and looks set to hit Beijing's
6.5 to 7 percent growth target as increased government spending
and a sizzling housing market spur a construction boom.
Private investment remains weak, however, leaving economic
growth more reliant on a steady stream of government spending,
while the property market is showing signs of fatigue, raising
fears that this year's momentum will not be sustainable.
Growth of fixed asset investment was unchanged at 8.3
percent in January-November from the same period a year earlier,
the National Bureau of Statistics said on Tuesday.
That was in-line with analysts' estimates and the same pace
as in the first 10 months of the year.
Fixed-asset investment by state firms rose 20.2 percent in
January-November, easing from 20.5 percent in the first 10
Growth of private investment picked up to 3.1 percent from
2.9 percent in January-October, suggesting an improved appetite
from private firms to invest though still at low levels compared
with previous years.
Private investment accounted for 61.5 percent of fixed asset
investment in the Jan-Nov period, the stats bureau said.
Chinese policymakers have been trying to lure private
investors into big infrastructure projects through
public-private partnerships, but many lucrative sectors are
still dominated by state firms.
Retail sales were buoyed by gains in auto sales, home
appliances and cosmetics.
Auto sales in China surged for a sixth consecutive month in
November, an industry association said on Monday, as consumers
rushed to buy cars amid uncertainty over whether a tax incentive
will be extended beyond the end of the year.
Alibaba Group Holding Ltd Singles' Day festival on
Nov. 11 posted a record 120.7 billion yuan ($17.73 billion)
worth of sales, though the gala shopping day saw growth slow as
Chinese shoppers searched for deeper discounts and lower price
Last week, trade data showed China's imports grew at the
fastest pace in more than two years in November, while exports
also rose unexpectedly, reflecting a pick-up in both domestic
and global demand.
The statistics bureau said in comments with the data that
China's economy showed positive changes in November but still
faces uncertainties at home and abroad.
China's property sales growth slowed sharply to 7.9 percent
in November from a year earlier, its lowest since December 2015,
and well short of 26.4 percent increase in October.
(Reporting by Kevin Yao; Editing by Kim Coghill)