BEIJING – The Chinese economy grew by 6.8 percent in the third quarter of the year compared to the same period in 2016, according to the National Bureau of Statistics.
With these figures, China’s Gross Domestic Product (GDP) grew by 6.9 percent year-on-year during the first nine months of 2017, reaching 59.32 trillion yuan ($9.12 trillion).
Xing Zhihong, a spokesperson for the National Bureau of Statistics, said at a press conference that during the July-September period, “the national economy grew steadily with rapidly growing new driving forces.”
These figures provide “a solid basis for achieving the annual goal of economic development,” Xing added.
Chinese authorities have set an economic growth target of around 6.5 percent for 2017, and just last week they were confident that they would match and even exceed this figure.
Earlier this month, the International Monetary Fund (IMF) increased its growth forecast for China by one tenth to 6.8 percent.
The National Bureau of Statistics also released reports on other economic indicators, such as retail sales, which rose 10.3 percent year-on-year in September, meaning that the retail industry have grown 10.4 percent in the first nine months of the year.
Fixed asset investment increased by 7.5 percent from January to September compared to the same period of 2016.
In addition, real estate investment increased by 8.1 percent between January-September.