GDP to maintain steady growth of 6.7%

Updated 2016-10-24 16:16:44 chinadaily.com.cn

China's 2016 GDP will maintain a steady growth of 6.7 percent as economic indicators bounce back, Chinese Academy of Social Sciences (CASS) said in an annual report.

In the first three quarters of this year, the country's GDP totaled 53 trillion yuan (.82 trillion), a 6.7 percent year-on-year increase, with consumption contributing 71 percent of economic growth, up by 13.3 percentage points compared with the same period last year; the fixed-asset investment rising by 8.2 percent year-on-year to 42.7 trillion yuan, and the CPI increasing 2 percent, up 0.6 percentage points over the same period last year, according to the National Bureau of Statistics.

The potential economic growth rate is expected to be in the range of 6.3 percent to 6.6 percent during the 13th Five-Year Plan (2016-2020) period, the annual report said.

It pointed out that China has entered the upper-middle-income economies club with the GNI (gross national income) per capital reaching ,016 in 2015. The result cited the World Bank's classification of countries.

Meanwhile, six of Chinese cities and provinces stepped into the high-income stage: Beijing, Shanghai, Tianjin, Jiangsu province, Zhejiang province, and Inner Mongolia autonomous region.

Changing the economic growth model and carrying out sustainable urbanization development will help the world's second-largest country break out the middle-income trap, the government's think tank said.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 26 2017 17:08:37

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 26 2017 17:08:37

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 26 2017 17:08:37

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords