A raft of economic data out of China on Tuesday added to the growing list of positive surprises from the world's second-largest economy in the recent weeks.
China's activity data was very impressive, Ting Lu, China economist at Bank of America Merrill Lynch told CNBC on Tuesday. "Overall, we have a picture that the economy is recovering from domestic demand to external demand, from investment to consumption."
The data provides evidence that China's economic recovery is becoming more broad-based, say economists, who expect growth to accelerate in the third quarter from the previous three months.
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"With a number of other emerging markets mired in turmoil as the U.S. [Federal Reserve] gets prepared to taper its [quantitative easing] program, China stands out as a safe haven with its resilient growth, stable currency and strong balance of payments," he added.