More detail on China's Q4 GDO released by the National Bureau of Statistics today, via Bloomberg
- Financial services up 12.9% in the three months through December from a year earlier
- Industrial sector up 5.8%
- Services sector output up 8.2%
"Financial services can never become a real key growth driver for a large country like China," said Xia Le, a Hong Kong-based economist at Banco Bilbao Vizcaya Argentaria SA. "When we find that the financial sector is contributing a large part to GDP growth, we need to go back to check the soundness of the calculating method and financial system."
More at the link above
