China’s gross domestic product rose 6.7% in the third quarter vs. a year earlier, the same growth rate as in Q1 and Q2 and matching expectations, Investor’s Business Daily reported.
Meanwhile, September retail sales rose 10.7% vs. a year earlier, while fixed-asset investment climbed 8.2%. Both also were in line with analyst expectations. September industrial production climbed 6.1%, below views for 6.4%.
The latest reports follow import and export data that raised concerns that China’s economy may be faltering. However, a slew of U.S.-listed Chinese stocks have been market leaders in New York.
Chinese e-commerce giant Alibaba (BABA), mobile gaming portal NetEase (NTES) and short-messaging service Weibo (WB) are delivering huge growth and their shares are at or near 52-week or record highs.
For-profit Chinese school stock TAL Education (XRS) is also delivering strong growth and share price performance.
BABA, NTES, WB and XRS are Cabot Global Stock Explorer (formerly Cabot Emerging Markets Investor) stocks.