China’s GDP expands 6.9% in first half of 2017
BEIJING — China’s gross domestic product expanded 6.9 percent year on year in the first half of this year to about 38.15 trillion yuan ($5.62 trillion), the National Bureau of Statistics said on July 17.
The growth rate is well above the government’s target for the year of 6.5 percent, reflecting a firming trend in the nation’s economy.
In the second quarter, China’s GDP held steady, posting a rise of 6.9 percent year on year, flat from the first quarter.
The service sector expanded 7.7 percent year on year in the first half, outpacing a 3.5-percent increase in primary industry and 6.4 percent in secondary industry, according to the NBS.
On a quarterly basis, the economy increased 1.7 percent in the second quarter from the previous quarter.
China’s economy has been operating within a reasonable range, maintaining stable, coordinated and sustainable development, NBS spokesperson Xing Zhihong told a press conference.