New data show sta­bi­liza­tion trend

China Daily (USA) - - NEWS CAPSULE -

Econ­o­mists say the lat­est eco­nomic data shows growth that’s steady and a chance for China to meet its yearly growth tar­get.

The coun­try’s gross do­mes­tic prod­uct ex­panded 6.7 per­cent year-on-year in the third quar­ter, the same fig­ure as in the pre­vi­ous quar­ter, the Na­tional Bureau of Sta­tis­tics re­ported on Wed­nes­day.

The growth was sup­ported to a great ex­tent by surg­ing prop­erty sales and govern­ment ef­forts to boost in­fra­struc­ture in­vest­ment, econ­o­mists said.

Other in­dexes con­firmed the econ­omy’s sta­bi­liza­tion. Fixedas­set in­vest­ment in the first three quar­ters edged up by 8.2 per­cent year-on-year, sup­ported by com­mit­ment to cap­i­tal in­fra­struc­ture and real es­tate in­vest­ment.

The bet­ter-than-ex­pected eco­nomic data also prompted econ­o­mists to raise their fore­cast on China’s whole year GDP growth, and many of them said the coun­try will be able to achieve its growth tar­get of 6.5 to 7 per­cent this year.

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