×
E-PAPER ▾

E-paper

Business

China’s economy grows 6.9% in second quarter

| | Beijing

China’s GDP grew 6.9 per cent in the second quarter, above the government’s target for the year of 6.5 per cent, indicating that the world’s second largest economy would comfortably meet its 2017 growth target amid concerns over high debt levels.

Xing Zhihong, spokesperson of China’s National Bureau of Statistics (NBS), said China’s economy is operating within a reasonable range, maintaining stable, coordinated and sustainable development.

In the second quarter, GDP of the world’s second largest economy held steady at 6.9 per cent year on year, flat from the first quarter.

It is “laying a solid foundation for achieving the annual target,” he said.

The 6.9 per cent growth rate in the second quarter is faster than expected, prompting the financial consultancy agencies to revise China’s growth rate upwards.

Nomura Securities said in a report after today’s data release that given the data, it is raising the forecast for the Q3 growth to 6.8 per cent from the previous 6.6 per cent, and the annual growth forecast to 6.8 per cent from 6.7 per cent.

 
 
 

TOP STORIES

Sunday Edition

View All

38-yr-old held for duping people coming to ATM

17 Sep 2017 | Staff Reporter | New Delhi

A 38-year-old man has been arrested by the Farsh Bazaar police for allegedly duping people coming to ATM and fraudulently withdrawing their money. Twelve ATM cards have been recovered from his possession...

Read More

STATE EDITIONS

View All

Chhattisgarh Assembly special session today

22 Sep 2017 | Staff Reporter | Raipur

A day-long special session of Chhattisgarh Legislative Assembly will be held on Friday. The session would carry out Government business, a Chhattisgarh Assembly press release informed ...

Read More

Page generated in 1.4859 seconds.