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Chinese economy grows 6.9 percent in 2017

Staff Writer |
China's economy grew by 6.9 percent in 2017, marking the fastest growth performance since 2015, according to the National Bureau of Statistics of China.

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"According to the preliminary estimation, the gross domestic product (GDP) of China was 82,712.2 billion yuan ($12.2 trillion) in 2017, an increase of 6.9 percent at constant price compared with last year," it said.

The statistics bureau said that the country's fourth quarter growth rate stood at 6.8 percent based on a yearly basis.

"Specifically, the year-on-year growth of GDP for the first quarter was 6.9 percent, 6.9 percent for the second quarter, 6.8 percent for the third quarter, and 6.8 percent for the fourth quarter," it added.

The bureau noted that the Chinese economy had achieved a "stable and healthy" development last year.

The government expects the country to grow by 6.5 percent in 2018.

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