Chinese economic data
- Chinese economic activity picked up pace in the last three months of the year. The Chinese economy grew at a 9.8 per cent annual rate in the December quarter (consensus 9.2 per cent) up from 9.6 per cent in the previous quarter. China’s industrial production also strengthened in December while the pace of retail sales activity rose to 25-month highs.
- The annual rate of consumer price inflation eased from the 28-month high of 5.1 per cent in November to 4.6 per cent in December. Food prices rose by 9.6 per cent over the year while non-food prices rose by just 2.1 per cent.
- Chinese authorities are continuing to achieve a degree of success in controlling property prices.
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