Talk Money: April 18, 2016

  • 18/04/2016
Tony Field (Paul Henry)
Tony Field (Paul Henry)

The Prime Minister John Key has arrived in China with trade talks high on the agenda.

He arrived just after the release of new figures showing China's economy is continuing to slow.

The economy of New Zealand's second largest trading partner grew at 6.7 percent in the three months to March. That was in line with expectations but was the slowest it has been in seven years.

The services sector of the economy is growing faster than the industrial sector.

Services, which include banking, education and health care, grew by 7.6 percent. The services sector now accounts for over half of the Chinese economy.  But that is smaller than the services sector in the United States (80 percent) or New Zealand (70 percent.)

Industrial activity grew by a more modest 5.8 percent.

There have been concerns about a hard landing in China. But the latest numbers for March show a double digit rise in retail sales and growth in industrial production and new loans.

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