China Q3 GDP growth on target at 6.7% but property concerns grow

Asia markets rise

The Chinese economy expanded at an annual rate of 6.7% in Q3 2016, putting it on track to meet the government's target of at least 6.5% growth for the whole of 2016.

However, according to the FT, this headline rate could fall in the last quarter as the Chinese authorities seek to calm the country's volatile property sector, which has traditionally been an anchor of the country's developing economy. Following the GDP announcement, China's SSE Composite index was up 1.4% to 3,084 points, while Tokyo's Nikkei 225 rose 0.2% to 17,004 points, and Hong Kong's Hang Seng index was down 0.2% to 23,356 points. China's real estate investment sector grew 7.1% in the year to September, while its services sector expanded by 7.6% and infrastructure investment ju...