日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

China's economy accelerates for 1st time in 7 years

Xinhua | Updated: 2018-01-19 10:04
Share
Share - WeChat

BEIJING - China's economy expanded 6.9 percent in 2017, picking up pace for the first time in seven years.

GDP totaled 82.7 trillion yuan ($13 trillion) in 2017, up from around 41.3 trillion yuan in 2010, when China first overtook Japan.

But it's not only the speed or quantity of growth that may make China a sustained engine for global economic growth. With policymakers reiterating the importance of "high quality growth," China's economy is entering a new era.

Beating forecast

"Major macroeconomic indicators all beat market expectations, pointing to economic stabilization," said Ning Jizhe, head of the National Bureau of Statistics (NBS).

While exceeding market consensus of around 6.8 percent, the 6.9-percent growth rate in 2017 was also well above the official target of around 6.5 percent, and 6.7 percent in 2016.

Wang Hanfeng, an analyst with China International Capital Corporation, said that the pick-up signaled that China's economy has entered a new phase of development.

"The acceleration added to evidence that the economy passed a turning point in 2016 and continued upward on the back of industrial and consumption upgrades," Wang said.

Growth in the fourth quarter came in at 6.8 percent, unchanged from the rate seen in the third quarter, NBS data showed.

The Q4 data was driven by a robust expansion of the service sector, as it continued to benefit from China's economic rebalancing, Nomura said in a research note.

"Given these stronger-than-expected Q4 GDP data, we have decided to raise our 2018 growth forecast by 0.1 percentage point to 6.5 percent," it said.

Better structure

The new era's basic feature is a shift from high-speed growth to high-quality development, according to a statement issued after the Central Economic Work Conference in December.

A breakdown of economic data Thursday showed a better economic structure, with new growth drivers emerging and outdated capacity fading.

New-energy vehicles, industrial robots, solar power and integrated circuit outshone most other industries in terms of output, growing 51.1 percent, 68.1 percent, 38 percent and 18.2 percent, respectively, year on year, contributing to a pick-up in industrial output growth in 2017.

On the other hand, mining and cement sectors saw their output decline 1.5 percent and 0.2 percent, while the textile and coal industries only grew 4 percent and 3.2 percent.

"New growth drivers are increasingly important for the economy, contributing more than 30 percent of growth and 70 percent of new jobs," said Tang Jianwei, an analyst with the Bank of Communications.

Bright spots such as retail sales in rural areas create future growth potential, analysts said.

The private sector is also showing vitality as the government pushes market reforms and improves business environment.

Private investment reached 38.15 trillion yuan, up 6 percent year on year, 2.8 percentage points faster than the previous year, accounting for 60.4 percent of the total investment.

Hard-won result

The growth came despite government measures to contain risk, which should have dampened growth.

Data Thursday showed a delicate balance between defusing risks and maintaining growth.

In 2017, stricter rules were adopted to curb pollution, local government debt, housing speculation and financial irregularities. All these "reductions" add up to a more sustainable growth model.

"The fact that the economy rebounded despite pollution controls and deleveraging showed that the real economy is improving, leaving room for risk control in 2018," said Liu Dongliang, an analyst with China Merchants Bank.

Chinese authorities said the country would continue to seek solid progress in preventing major risks, targeted poverty alleviation and pollution control in 2018, or the so-called "three tough battles."

When asked if such battles would weigh on growth in 2018, Ning hinted that he would not worry too much.

"When we talk about keeping the economy running within a proper range, we should not only look at the growth pace but also employment, income growth and improvement in the environment. After all, that's what economic development really means," Ning said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 九九视频在线 | 欧美亚洲另类视频 | 国产精品99久久久久久动医院 | 天天操综合| 国产日韩欧美在线观看 | 喷潮网站| 四虎影在线永久免费四虎地址8848aa | 成人精品久久 | 欧美三级视频在线观看 | 日韩成人精品在线 | 成人午夜性视频欧美成人 | 国产人成午夜免视频网站 | 国产成人99久久亚洲综合精品 | 成人高清网站 | 第三级视频在线观看 | 亚洲高清视频在线观看 | 亚洲在线成人 | 久久久久亚洲 | 亚洲国产成人精品女人久久久 | 免费一区 | 狠狠综合久久久久综 | 麻豆专区一区二区三区四区五区 | 视频在线观看一区 | 亚洲视频欧美视频 | 日产精品卡二卡三卡四卡乱码视频 | 日韩在线观看中文字幕 | 天天影视插插 | 国产一区在线免费 | 欧美综合国产精品久久丁香 | 久久久婷 | 密室逃脱第一季免费观看完整在线 | 久草在线综合 | 欧美一区二区三区四区夜夜大片 | 一级片性 | 国产大毛片 | 免费视频片在线观看大片 | 日本在线无 | 欧美精品一二区 | 亚洲人成在线播放网站 | 欧美一级一级 | 国产福利在线看 |