China's Economy Expands 6.7 Percent in 2nd Quarter.
Beijing, Shawwal 10, 1437, Jul 15, 2016, SPA -- China's economy saw 6.7-percent growth year on year in the second quarter of 2016, falling within the country's target for 2016, official figures said Friday. The government's gross domestic product (GDP) growth target for 2016 is 6.5 to 7 percent. China's GDP in the first half of the year reached 34.06 trillion yuan (5.08 trillion dollars), according to the National Bureau of Statistics. However, analysts say stabilizing growth in China comes largely from an unsustainable rapid expansion of credit. After decades of growth at a breakneck pace, China's economy grew by only 6.9 per cent in 2015, the slowest growth in more than a quarter of a century, dpa reported. --SPA 11:29 LOCAL TIME 08:29 GMT
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