China’s economy grows steadily at annual rate of 6.7%

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China’s economy grew at an annual rate of 6.7% in the three months to September, government data showed, a sign that growth is stabilising.

(AFP photo)
(AFP photo)

The figure was the same rate as the previous two quarters, and was in line with forecasts.

The spell of stability will reassure investors after China’s markets and currency crises earlier this year sparked fears of a further slowdown.

China’s economic performance has a big knock-on impact around the world.

Full year growth for 2016 is still likely to be weaker than last year’s, which was already the slowest in 25 years.

“The general performance was better than expected,” the National Bureau of Statistics said in a statement when releasing the data today (Wednesday).

The figure is in line with Beijing’s growth target of 6.5%-7% for the year. (BBC)

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