China’s economy stabilises with better quality

Beijing, Oct 19 (IANS) China’s economy grew 6.7 per cent in the third quarter of this year, holding steady from the second quarter and fueling hopes that the government will achieve this year’s GDP target.

The figure, released by the National Bureau of Statistics (NBS) on Wednesday, remained within the government’s targeted range between 6.5 and 7 per cent for this year, Xinhua news agency reported.

On a quarterly basis, the economy increased 1.8 per cent from the second quarter.

GDP expanded 6.7 per cent year on year in the first three quarters of 2016 to reach 52.997 trillion yuan ($7.87 trillion).

NBS spokesperson Sheng Laiyun said the country’s economy grew steadily with progress made and quality improved, as a result of appropriately expanded aggregate demand, the supply-side structural reform, positive development anticipation and accelerated fostering of new drivers.

–IANS

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