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Economy: Mainland China’s Q2 GDP rises 4.3% year-on-year; forecast is +4.5%

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The National Bureau of Statistics released preliminary estimates: in the first half of the year, China’s domestic gross domestic product (GDP) was 69.57 trillion yuan (same below). Measured at constant prices, GDP grew 4.7% year over year, slightly below market expectations of 4.8%. By sector, value added was 3.15 trillion yuan for the primary industry, up 3.7% year over year; 25.05 trillion yuan for the secondary industry, up 3.9%; and 41.37 trillion yuan for the tertiary industry, up 5.2%. By quarter, GDP grew 5.0% year over year in the first quarter and 4.3% in the second quarter, while the market expected 4.5%. On a quarter-on-quarter basis, GDP in the second quarter grew 0.9%, meeting expectations. (jl/u) Relevant content: Shanghai plans to launch the collection of an annual individual property tax on residential properties
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