China's GDP expands 6.9 percent in first 3 quarters: NBS
China's gross domestic product expanded 6.9 percent year on year in the first three quarters of 2017 to 59.3288 trillion yuan (about 8.9614 trillion U.S. dollars), data from the National Bureau of Statistics (NBS) showed on Oct. 19.
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Xing Zhihong, spokesperson of the National Bureau of Statistics (NBS), speaks at a press conference held by the State Council Information Office on Oct. 19, 2017. [Photo by Yuan Shaoda/China SCIO] |
The growth rate held steady from a 6.9-percent increase in the first half of this year and is well above the government's target for the year of 6.5 percent, reflecting a continued firming trend in the nation's economy.
In the third quarter, China's GDP was up 6.8 percent year on year, compared with 6.9 percent in the second quarter, according to NBS data.
"The Chinese economy has maintained steady growth with a positive outlook in the first three quarters," NBS spokesperson Xing Zhihong told a press conference.
Improvements have been made in both economic structure and growth quality, and new growth engines are gaining steam, he said.
The service sector expanded 7.8 percent year on year in the first three quarters, outpacing a 3.7-percent increase in primary industry and 6.3 percent in secondary industry, according to the NBS.