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China's local government debt soared during an investment and construction binge following the global financial crisis in 2008. Well aware of the risks, authorities have rolled out a string of measures including the debt-for-bond swap to reduce the local debt burden.
China's economy grew 3.2 percent year-on-year in the second quarter, following a 6.8-percent contraction in the first quarter, according to the National Bureau of Statistics (NBS).
China's fiscal spending registered a 3.3 percent increase year-on-year in August, official data showed. In the first eight months, fiscal spending expanded 6.9 percent year-on-year to 14.1 trillion yuan.
China's gold consumption reached 1,089.07 tons in 2017, a year-on-year increase of 9.41 percent, with demand for gold jewelry, gold bars and industrial uses surging. Demand for gold is expected to continue rising with the growth in high-end consumption and demand from second and third-tier cities, it said.
China's economy has become more dynamic and resilient over the past few years, fostered by supply-side structural reform. We have seen major changes in the consumption and manufacturing sectors with evolving patterns and steady expansion. For instance, more than 400 million of China's population are in middle-income groups, seeking a broader range of dietary options and showing a growing concern for the quality and safety of food, domestic appliances and daily items.
来源：资阳报