China's Retail Sales Tops the Year in November

China as the world's No. 2 economy has reportedly gained its hugest retail sales growth in November, which suggests the national economy is healthy and would stabilize for a span of time.

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With a rocky start to this year, China's economy has performed better than expected and has the possibility to hit Beijing's 6.5% - 7% growth target under the condition with higher government spending and a sizzling housing market fuel a construction boom. Factory output has raised 6.2% off last year, above the views for 6.1%.

Retail sales lifted 10.8%, which is the fastest off last December and topping forecasts for 10.1%. Online sales grow also, thanks to the Singles Day. E-Commerce giant Alibaba witnessed record sales on that day, whose rival competitor JD and Wechat’s Tencent also had greater sales performance, which all have surpassed US’s Black Friday & Cyber Monday on online sales.

Fixed asset investment in urban areas also rose 8.3% from January to November. Despite faster growth & productivity in the private sector, state-run enterprises keep dominating the section of investment & credit. SOE’s fixed investment rose 20.2 percent, sliding from 20.5% in January to October. Private investment growth picked up by 0.2% in first 10 months.

China’s stocks retreated 0.7% on Tuesday. Stronger data only makes monetary tightening more likely by the People's Bank of China. Investors are also looking all around the world to the Federal Reserve, which is expected to raise interest rates at the end of its 2 days’ meeting the next day.

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