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China's economy expands steadily despite headwinds
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China's economy expands steadily despite headwinds

Views:1     Author:Site Editor     Publish Time: 2019-07-25      Origin:Site

China's GDP expanded 6.3 percent year on year in the first half of 2019 to about 45.09 trillion yuan (about 6.6 trillion U.S. dollars), data from the National Bureau of Statistics showed Monday.

The growth was in line with the government's annual target of 6-6.5 percent set for 2019.

In the second quarter, the country's GDP rose 6.2 percent year on year, lower than 6.4 percent in the first quarter, according to the data.

The economic performance was generally stable and remained within a reasonable range, with progress made in certain areas, bureau spokesman Mao Shengyong told a press conference.

The 6.3-percent GDP increase, achieved amid slower global economic growth, weak expansion of international trade and domestic downward pressure, made China still one of the world's fastest-growing major economies, Mao said.

A breakdown of the data showed the output of the service sector, which accounted for 54.9 percent of the total GDP, rose 7 percent in the first half, outpacing a 3-percent increase in the primary industry and a 5.8-percent rise in the secondary industry.

Consumption continued to play a major role in driving economic growth, with final consumption contributing to 60.1 percent of economic expansion in the January-June period.

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