China Q2 GDP grows faster than expected

China's economy grew faster than expected in the second quarter as industrial output and consumption picked up and investment remained strong.

The world's second-largest economy grew 6.9 per cent in the second quarter from a year earlier, though analysts expect slower growth over the rest of the year as policymakers seek to reduce financial risk.

The Gross domestic Product (GDP) grew the same rate as the first quarter, the National Bureau of Statistics said on Monday. 

Analysts polled by Reuters had expected the economy to expand 6.8 per cent in the April-June quarter.

On a quarterly basis, growth picked up to 1.7 per cent from 1.3 per cent in the first quarter, in line with expectations.

Strength in retail sale and industrial output data helped offset a weak start for China stocks, which may have been linked to talk of tighter financial regulations.

Growth in China's economy this year has beaten expectations as exports recover and property construction remains strong