China’s Economy Grows by 6.9% in 2017

According to official data, China’s economy grew by 6.9% in 2017, the first time in seven years the pace of growth has picked up.

Analysts said as growth stabilizes, the country will strengthen regulations and reforms to pursue high-quality development.

While growth accelerated in 2017, the quality of that growth has also improved. The country's per capita income, for example, increased by 7.3 percent year-on-year in real terms, higher than the national GDP growth. The supply-side structural reform has raised industrial production efficiency measured by the capacity utility ratio. And high-tech industries have grown at a faster pace than overall industry growth.

China is a key driver of the global economy and so the data is likely to cheer investors around the world.

Source: BBC

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