Q1 GDP

China’s economy posted a forecastbeating growth rate in the first quarter of 2017, with GDP up 6.9 percent year on year, according to data of the National Bureau of Statistics (NBS) released on April 17. The growth was above the full-year target of 6.5 percent and the 6.8-percent increase registered in the fourth quarter of 2016. GDP reached 18.07 trillion yuan ($2.63 trillion) in the January-march period.

NBS Spokesperson Mao Shengyong said the economy had achieved a rosy start this year. “Generally speaking, the national economy has continued with stable and sound momentum in the first quarter as growth rebounded moderately and economic adjustment was steadily promoted,” Mao said. He mainly attributed the strong performance to robust factory activity, strong consumption and rebounding exports.