China’s economy grows by 6.9% in 2017

      Published on Thursday, 18 January , 2018      129 Views     
China’s economy grows by 6.9% in 2017

  • China Business

China’s economy grew by 6.9% in 2017 according to official data – the first time in seven years the pace of growth has picked up.

The figure beats Beijing’s official annual expansion target of about 6.5%.



China is a key driver of the global economy and so the better-than-expected data is likely to cheer investors around the world.

But many China watchers believe the GDP numbers are much weaker than the official figures suggest.

This month alone, the governments of Inner Mongolia and of the large industrial city of Tianjin have admitted their economic numbers for 2016 were overstated.

Taking the figures at face value, the 2017 growth rate is China‘s highest in two years. And it represents the first time the economy has expanded faster than the previous year since 2010.

However as Beijing ramps up efforts to reduce risky debt and to increase air quality, analysts said this may impact 2018 growth.

The numbers released on Thursday also showed that in the last three months of 2017, the economy grew at an annual rate of 6.8% – slightly higher than analysts had been expecting.

bbc.co.uk

Bulgarian Business Club London



 

Keywords:
Category China Business | 2018/01/18 latest update at 3:00 PM
Source : | Photocredit :
130 Views
Comments Add comment



Bulgarian Business Club

Related Articles

The editorial staff of Bulgarian Business Club would like to give all of its readers from Bulgaria and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bulgarian Business Club with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter or use our RSS feed channel to always read the most important news about Bulgaria.


Sponsored Publications