Financial sector fuels China’s economic growth: +12.9% y/y in Q4

More detail on China's Q4 GDO released by the National Bureau of Statistics today, via Bloomberg

• Financial services up 12.9% in the three months through December from a year earlier
• Industrial sector up 5.8%
• Services sector output up 8.2%

"Financial services can never become a real key growth driver for a large country like China," said Xia Le, a Hong Kong-based economist at Banco Bilbao Vizcaya Argentaria SA. "When we find that the financial sector is contributing a large part to GDP growth, we need to go back to check the soundness of the calculating method and financial system."

More at the link above