China's economy grew 6.9% in the first quarter

The chinese language economy picked up steam within the first quarter.

Gross domestic product grew 6.9% from a 12 months earlier, the country’s nationwide Bureau of records said Monday. that’s slightly higher than the 6.eight% determine recorded in the fourth quarter of ultimate year — and above what some economists had been predicting.

The chinese language govt mentioned final month that it’s concentrated on boom of “around 6.5% or greater if imaginable” in 2017. The economy grew 6.7% final year.

China’s ruling Communist party has been prioritizing economic steadiness ahead of a key leadership reshuffle later this yr when President Xi Jinping’s 2nd time period in power will start.

however many economists concern that China’s efforts to boost growth nowadays will come at a value all the way through Xi’s next term. bank lending has continued to soar, with debt rising at greater than twice the speed of the underlying economy.

CNNMoney (Hong Kong) First printed April 16, 2017: 10:14 PM ET

http://i2.cdn.turner.com/money/dam/property/170416223433-china-gdp-120×90.jpg
latest monetary information – CNNMoney.com