China economy rebounds in 2017 with 6.9% growth

The performance was a welcome uptick for the world’s second largest economy, which registered 6.7 percent growth in 2016, the slowest for more than a quarter of a century. (AFP)
Updated 18 January 2018
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China economy rebounds in 2017 with 6.9% growth

BEIJING: China’s economy grew a forecast-beating 6.9 percent in 2017, picking up steam for the first time since 2010, official data showed Thursday.
Analysts surveyed by AFP had predicted 6.8 percent growth, which was better than the government target of around 6.5 percent.
The performance was a welcome uptick for the world’s second largest economy, which registered 6.7 percent growth in 2016, the slowest for more than a quarter of a century.
The reading comes as China kicks its war on pollution into full gear, halving industrial production for some steel smelters and mills this winter.
The national statistics bureau said the economy expanded 6.8 percent in the final three months of the year, matching its third quarter growth but slightly down from the 6.9 percent in each of the previous two quarters.


Uber proposals value company at $120bn in a possible IPO

Updated 16 October 2018
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Uber proposals value company at $120bn in a possible IPO

  • Goldman Sachs Group Inc. and Morgan Stanley last month delivered the valuation proposals to Uber
  • Uber did not immediately respond to a request for comment

LOS ANGELES: Uber Technologies Inc. recently received proposals from Wall Street banks valuing the company at as much as $120 billion in an initial public offering that could take place early next year, the Wall Street Journal reported on Tuesday.
Goldman Sachs Group Inc. and Morgan Stanley last month delivered the valuation proposals to Uber, the report said, citing people familiar with the matter.
Uber did not immediately respond to a request for comment.