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China's GDP expands 6.7% year-on-year
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Category：Current Affairs
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Subject：People and society ; Finance ; System reform
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Source：chinadaily.com.cn
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Publish Date：01-20-2017
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China's gross domestic product expanded 6.7 percent year-on-year in 2016 to reach 74.41 trillion yuan ($10.84 trillion), the National Bureau of Statistics said on Friday.
"Generally speaking, China's economy was within a proper range with improved quality and efficiency," said Ning Jizhe, the NBS chief, at a news conference in Beijing.
"However, we should also be aware that the domestic and external conditions are still complicated and the foundation for a stabilized but progressing economy should be further consolidated," he said.
Industrial production grew steadily, rising 6 percent year on year, the same as that in the first three quarters, the official data showed.
Fixed-asset investment grew by 8.1 percent year-on-year, 0.1 percentage point slower than that in the first three quarters. Meanwhile, total real estate development in 2016 rose by 6.9 percent, 5.9 percentage points faster than last year.
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