Workers check power lines during maintenance work in Laian, in China's eastern Anhui province on July 17, 2017. China posted better-than-expected growth in the second quarter. / AFP / STR
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China's economic growth held steady in the latest quarter, boosted by unexpectedly strong trade and consumer spending, despite fears tighter lending controls aimed at cooling a surge in debt are weighing on commercial activity.Forecasters expect the economy to cool as those controls depress investment, the biggest component of growth in recent years.The International Monetary Fund has forecast China's full-year growth for 2017 to hold steady at last year's level of 6.7 percent.Investment rose by 8.6 percent in the first half of the year, but that was down from 0.6 percent from the first quarter's expansion.Private sector analysts cite surging debt as the biggest potential risk to China's long-term economic stability.Total nongovernment debt rose from the equivalent of 170 percent of annual economic output in 2007 to an estimated 260 percent last year, unusually high for a developing country.
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