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China posts better-than-expected 6.8% growth in Q1

China posts better-than-expected 6.8% growth in Q1

It was the third-straight quarter for 6.8 percent growth year-on-year and fueled in part by a widening trade gap with the U.S.

Amid the Sino-US tariff trade spat, China today said it will impose provisional anti-dumping measures on the growing imports of sorghum from America and threatened retaliatory measures for denial of export privileges to its top tech firm ZTE.

"The national economy maintained the momentum of steady and sound development", said Xing Zhihong, a Bureau spokesman.

Sian Fenner, an economist at Oxford Economics, tells CNBC that Chinese officials will continue "tapping on the brakes" in their goal of a managed slowdown.

Kim is expected to hold summits with South Korean President Moon Jae-in this month and US President Donald Trump in the following weeks. "It's been absolutely awful for our country", he said, adding his administration was proposing tariffs to "save our industries for the future". "We underestimated the power of consumption in China", she says.

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The threatened tariffs on a $150 billion worth of Chinese goods, and 50 billion of U.S. goods, would dent economic growth on both sides of the Pacific, analysts say.

China's Ministry of Commerce said that starting Wednesday, US growers will be required to put down a 178.6 per cent deposit after an investigation found US subsidies were hurting Chinese growers.

Output at China's factories and workshops expanded 6.8 percent year-on-year for the first quarter, matching the expansion seen during the same period last year, but below the 6.9 percent forecast by Bloomberg News.

Retail sales rose 10.1 percent in March from a year earlier, beating expectations of an increase of 9.9 percent, compared with a rise of 9.7 percent in the first two months.

Last year, the economy grew by 6.9%, the fastest since 2015, even as Beijing moved towards curbing financial risk by squeezing an excessive debt bubble.