China’s economy has grown faster than expected in the second quarter, thanks to robust exports and strong domestic consumption.
The country’s gross domestic product maintained its 6.9 per cent annual growth rate from the first quarter, according to the data from the National Bureau of Statistics released Monday. It outpaced analysts’ forecast of 6.8 per cent, and helped the country on its track to 6.5 per cent growth target in 2017.
Solid production output and exports along with increasing retail sales helped drive the growth, according to a Reuters calculation.
“Overall, the economy continued to show steady progress in the first half … but international instability and uncertainties are still relatively large, and the domestic long-term buildup of structural imbalances remain,” the Bureau said in a statement.