CHINA GDP Q2 GROWTH SLOWS; GOVERNMENT RELUCTANT TO STIMULATE

HONG KONG - Second quarter GDP growth in China registered 7.5% y/y, continuing the gradual slowdown in place over the past four-to six-quarters. The out-turn brings growth for the first half of the year to 7.6% y/y, just above the official full-year target of 7.5%. China’s official news agency, Xinhua, over the weekend reiterated the 7.5% growth target after confusion over a reported quote by the Finance Minister on Friday suggesting the target may have been lowered.