china economist: Julian Evans-Pritchard, China economist at Capital Economics said: "Economic activity seems to be holding up reasonably well, with few signs that a renewed slowdown is just around the corner." Forecasters remained cautious however, warning that growth was still likely to slow next year given that this latest strong showing was reliant on a surge in bank lending and real estate prices, according to Deutsche Welle. Regulators are trying to rein in growth in these areas, viewing them as risky. Compared with a year earlier, figures showed the world second-largest economy grew by 6.7 percent, which was in line with the previous two quarters and marginally better than some analysts had predicted. Initial reaction to the news was somewhat muted, with Shanghai stocks rising by 0.2 percent while Hong Kong gave up its initial gains. An aerial view of the Beipanjiang Bridge, the world highest bridge, under construction over the Nizhu River As the country communist leaders try to steer China towards more self-sustaining growth, based on consumer spending rather than trade and investment, Beijing has focused investment in major public works and construction projects. "Third-quarter data signaled that economic growth has stabilized at a healthy pace, and that China transition from a high-speed, heavy industry-based economy to a moderately-fast consumer and services-based economy is well underway," said Andy Rothman of Matthews Asia in a report. Stimulus offsets weak exports The data confirmed that the Chinese economy is stabilizing off the back of Beijing stimulus measures, as well as increased bank lending and a hot property market.
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