GDP Growth

China’s GDP expanded 6.9 percent year on year in the first three quarters of this year to 59.33 trillion yuan ($8.9614 trillion), data from the National Bureau of Statistics (NBS) showed on October 19.

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, 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.