China’s industrial output grew 7.2 percent in the first two months of the year compared with the same period last year, while fixed-asset investment growth quickened to 7.9 percent, both easily beating expectations.
Analysts polled by Reuters had predicted industrial output growth would dip marginally to 6.1 percent from 6.2 percent in December, pressured by tough winter pollution restrictions.
Fixed asset investment had been expected to grow 7.0 percent, cooling from 7.2 percent in the whole of 2017.
As US President Donald Trump readies hefty tariffs on steel and aluminium imports, Reuters reported economist Kevin Lai in Hong Kong as saying: "There is a good possibility that Trump will do a lot more against China...The trade situation is obviously a rising risk and a relatively new challenge for China.”
Private sector fixed-asset investment rose 8.1 percent, compared with an increase of 6.0 percent in 2017. Private investment accounts for about 60 percent of overall investment in China.
Retail sales rose 9.7 percent on-year, the National Bureau of Statistics said on Wednesday, slightly missing expectations. Analysts had expected sales growth to pick-up to 9.8 percent from 9.4 percent in December.
China is targeting retail sales growth of about 10 percent this year, but has not announced a goal for industrial output or fixed asset investment.
Premier Li Keqiang said last week China aims to expand its economy by around 6.5 percent this year.
