The Chinese economy grew at a rate of 6.9 percent in the second quarter, according to the latest government data released on Monday.
This was a faster pace than expected and above the government’s growth target. The figure was the same as the first quarter of 2017, and 0.1 percent above analysts’ projections.
The official data showed strong performance across all sectors; property investment also rose by 8.5 percent in the first half, an improvement on the same period in 2016.
Industrial output for June grew by 7.6 percent, well above the forecast of 6.5 percent, and retail spending rose by 11 percent compared to June the previous year. The figures are encouraging for the Chinese government, who are currently dealing with debt levels of 277 per cent of GDP.