You are here: Home » PTI Stories » National » News
Business Standard

China's economy grows 6.9 pc in first quarter of 2017: govt

AFP  |  Beijing 

China's economy grew 6.9 per cent in the first quarter of 2017, data showed today, beating expectations in the latest sign of stabilisation in the world's second-largest economy.

The reading was better than the median analyst expectation of 6.8 per cent in an AFP poll.

"The national economy in the first quarter has maintained the momentum of steady and sound development," the National Bureau of Statistics said in a statement.

It added that "positive changes kept emerging and major indicators performed better than expected".

The has trimmed its 2017 growth target to "around 6.5 per cent" as the world's second-largest economy, already expanding at the slowest pace in a quarter-century, faces an array of challenges.

The economy grew 6.7 per cent in 2016, its slowest rate since 1990.

Today's data also showed China's industrial output growth rose to 7.6 per cent year-on-year in March, beating an estimate of 6.3 by

Retail spending grew a forecast-beating 10.9 per cent, while fixed-asset investment rose 9.2 per cent in the first three months of the year, representing a slight acceleration from February.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 17 2017. 08:13 IST