Related News
China's economy stabilizes despite headwinds
Online Edition
CHINA'S economy grew slightly faster than expectations in the second quarter of 2016, holding steady from the first quarter and fueling hopes that the economy has entered a steady but slower period of development.
The country's GDP grew 6.7 percent year on year in the second quarter, according to data released by the National Bureau of Statistics (NBS) on Friday.
The figure, though the lowest quarterly rate since the global financial crisis, remained within the government's targeted range of between 6.5 and 7 percent for 2016.
On a quarterly basis, the economy increased 1.8 percent from the first quarter.
GDP expanded 6.7 percent year on year in the first half of 2016 to reach 34.06 trillion yuan (5.08 trillion U.S. dollars).
NBS spokesperson Sheng Laiyun said China's economic stabilization is set to continue, with major indicators operating in a reasonable zone while supply-side structural reform and economic restructuring continue to advance.
Industrial output expanded 6.2 percent year on year in June, accelerating from a 6-percent increase in May. Retail sales rose 10.6 percent, a faster expansion from May's 10-percent growth. However, growth of fixed-asset investment slowed further to 9 percent for the January-June period.
The service sector expanded 7.5 percent year on year in the first half, outpacing a 3.1-percent increase in primary industry and 6.1 percent in secondary industry. It accounted for 54.1 percent of the overall economy, up 1.8 percentage points from a year earlier, Sheng said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
