China GDP beats expectations to grow 6.8% in third quarter
Jan 21, 2017, 00:32
And retail spending is growing at the fastest annual rate in a year.
In 2016, China's GDP grew at 6.7%, the country's lowest growth rate in 26 years, but at least it somehow managed to still meet government expectations. Nevertheless, the 2016 GDP falls within the government's target range of 6.5 percent to 7.0 percent.
Growth in the fourth quarter of 2016, in fact, came in at 6.8%, accelerating from the 6.7% in the third quarter, according to the National Bureau of Statistics (NBS), which shared the data at a press conference. Just $5 a month. In a report, Wang's team estimated that total government debt past year reached 50 trillion yuan ($7.2 trillion), or 68% of GDP, up from 43 trillion yuan, or 62% of GDP, in 2015.
Industrial production slid from 6.2 per cent growth in November to 6 per cent, while fixed asset investment - a proxy for construction and infrastructure spending - also fell.
Property and infrastructure construction, together with a credit boom, played a key role in stabilising the economy a year ago, according to analysts.
The country has relied on massive levels of credit to soothe its transition from an economy rooted to trade towards a more consumer-led model. "China's economy ended 2016 with short-term growth firmly on track, but long-term sustainability veering further off it", they said. Maintaining growth requires fending off policy challenges including a slumping yuan that posted its biggest annual drop in two decades. U.S. Treasury Secretary nominee Steven Mnuchin said during a confirmation hearing he was ready to label Beijing a currency manipulator, while Commerce nominee Wilbur Ross has called China the "most protectionist" nation among the major economies. This helped fuel a rally in property prices, adding to concerns of a new asset bubble.
At the World Economic Forum in Davis on Tuesday Chinese President Xi Jinping warned that China's economy "faces downward pressure and many difficulties".
Despite a protracted slowdown, China's contribution to the world's economic growth may again top that of all other economies, even exceeding the figure for all developed economies combined.
Payet reportedly wants to return to his native France, to play for the fabulously wealthy Marseilles FC, because he is "homesick". West Ham will be looking to end a run of three straight defeats when they play host to struggling Crystal Palace on Saturday.
Lord Snowdon, the former husband of Princess Margaret, has died peacefully at the age of 86 a family spokesperson has announced. The motorbike-riding celebrity photographer also made headlines throughout the years - often for controversial reasons.
This means that she will not be swayed by people who choose to scapegoat others, nor any type of fear-mongering. While Belle's personality will remain true to the character, a few changes were made to modernize her.
More than 200,000 Jews were killed at the camp in Sobibór, which was destroyed by the Nazis following a revolt in October 1943. It is important to tell the story, so that we never forget", said Israel Antiquities Authority archaeologist Yoram Haimi.
It will be a free download initially offering three stages, with a single in-app purchase to unlock the rest of the levels. Instead, you can check out our Super Mario Run preview and bone up on Super Mario Run tips and tricks while you wait.
It looks like the family feud between Jordan and Aaron Rodgers is raging on, and now their dad has spoken out about the rift. The circumstances in which the family's private business became a national story were "weird", Ed Rodgers acknowledged.
In other findings, App Annie said that Black Friday was the first day to ever generate over $1 billion in US online mobile sales. Apple's App Store serves users of the iPhone and iPad and in 2016 its sales rose to more than £23 billion ($28 billion).
"The Obama administration's decision to "ease" sanctions is inexplicable ", said Leslie Lefkow of Human Rights Watch. The country's long-time leader President Omar al-Bashir is wanted by the International Criminal Court for War Crimes.
Earth Had Its 3rd Hottest Year In A Row In 2016
All these estimations are supported by those of worldwide weather groups, including the World Meteorological Organization . The agency also noted that the record for the global temperature now has been broken five times since the 2000.
School shooting in N Mexico critically injures 5
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Israel expands missile defense system with new interceptor
The ministry says the addition of Arrow-3 will "significantly reduce" the possibility of ballistic missiles hitting Israel. The new interceptor offers longer-range, higher-altitude (exo-atmospheric) and more precise ballistic missile engagements.