The Chinese economy’s strong growth momentum in the first three quarters heralds a rosy picture for the whole of 2017 and the year to come By Ma Xiaowen
China’s GDP grew at 6.9 percent year on year to 59.33 trillion yuan ($8.96 trillion) in the first three quarters of 2017, according to the National Bureau of Statistics (NBS).
In the third quarter, the GDP was up 6.8 percent year on year, making it the ninth consecutive quarter that has seen the GDP growth rate stay within the 6.7-6.9 percent range, NBS spokesperson Xing Zhihong said at a press conference on October 19. “This proves that the Chinese economy has maintained medium- to high- speed growth,” Xing remarked.
The sound economic expansion in the first three quarters has laid a solid founda- tion for achieving the annual growth target, he said at the press conference, which released the figures for major economic indexes in the first three quarters. The government has set the growth target for the whole year at 6.5 percent. Meanwhile, energy consumption per unit of GDP dropped by 3.8 percent year on year in the