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China's economy holds up in May but slowing investment points to cooling

Off-balance-sheet lending also fell sharply in May after rising earlier in year

Reuters  |  Beijing 

China's economy generally remained on solid footing in May, but tighter monetary policy, a cooling housing market and slowing investment reinforced views that it will gradually lose momentum in coming months. Still, with half a year left to go, Beijing is expected to handily meet its annual 6.5 per cent economic growth target without too many bumps, good news for President Xi Jinping ahead of a major political leadership reshuffle later this year. China's fast start to the year led the International Monetary Fund on Wednesday to raise its 2017 growth outlook for the ...

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First Published: Wed, June 14 2017. 17:03 IST