Chinese GDP data came in right in line with both forecasts and the previous quarter, posting a 6.7% growth rate. Retail sales landed at 10.7%, but industrial output fell slightly short at 6.1% versus 6.4% expected.

According to Christoffer Moltke-Leth, Saxo Capital Markets’ director of global sales trading, this is good news. And he takes a deeper look at what lies behind the numbers and what future challenges the Chinese economy is facing, among other things the prospect of future reforms and the luming housing bubble.

Read more about the Chinese data here.