China reported robust numbers for its industrial output, fixed asset investment, and retail sales in the month of August.

The National Bureau of Statistics reported a 6.3 percent increase in industrial output on a year-on-year basis, beating the forecasted 6.1 percent increase. This is the steepest increase in production since March. Retail sales increased by 10.6 percent from the corresponding period a year earlier, surpassing the estimated 10.3 percent. According to Business Insider, this is the fastest increase since December 2015.

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Fixed asset investment showed an 8.1 percent increase for the period of January to August, compared to the corresponding period in the previous year.

The National Bureau of Statistics also reported a 2.1 percent increase in private sector investment, while state-backed investments grew by 21.4 percent. Property investments increased by 5.4 percent for the period of January to August on a year-on-year basis.

According to the Wall Street Journal, China is on its way to achieving its growth target of 6.5 percent to 7 percent for the year. However, the pace of growth is likely to see a mild slowdown in the fourth quarter. The country's economy is also grappling with other issues such as increasing corporate debt and excess capacity.

The main sectors that are benefiting from the current strong infrastructure spending are steel, coal, and cement. Housing sales for January to August period increased by 25.6 percent from the same period in 2015.

Tagschina, National Bureau of Statistics