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19

China Financial Sector Shrugs Off Stock Rout to Fuel GDP Growth

By Tony Seruga

Industrial, construction sectors weigh on economic expansion
Shanghai Composite Index slumped almost 30% in third quarter

China’s financial sector shrugged off a slumping stock market to underpin growth in the world’s second-largest economy last quarter.

Financial services jumped 16.1 percent in the three months through September from a year earlier, the National Bureau of Statistics said Tuesday. The industrial and construction sectors both expanded 5.8 percent, weighing on the 6.9 percent overall gross domestic product growth rate…

China Financial Sector Shrugs Off Stock Rout to Fuel GDP Growth

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