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The latest economic data from China suggests that recent fiscal stimulus efforts in the world’s second-largest economy have been successful.

Fixed asset investment rose 6.1% year over year in February. This was a firm increase from the prior 5.9% reading. Similarly, infrastructure investment also rose by 4.3% in February. This was 0.5% higher than the average rate over 2018.

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Infrastructure Spending Strong

Looking at the breakdown of the infrastructure spending, road and transport investment, funded mainly by local government bonds, rose by 13% year over year. This marked a 4.8% increase on the average rate seen over 2018. A quicker pace of growth in this category has helped offset the slower growth seen elsewhere, such as in the manufacturing sector.

Industrial output over the first two months of the year hit a 17-month low of 6.1%. This will likely act as the catalyst for a fresh wave of stimulus in the country. Ho...

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