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China’s GDP posts 7% growth in second quarter

Beijing, China’s economy posted seven percent growth year-on-year in the second quarter of 2015, unchanged from seven percent in the first quarter, the National Bureau of Statistics (NBS) announced on Wednesday.

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The growth rate proved more optimistic than a median market forecast of 6.9 percent for the second quarter, as authorities cited recent “positive signs” in the economy, Xinhua reported.

In the first half of the year, the gross domestic product (GDP) hit 29.7 trillion Yuan ($4.9 trillion), according to NBS data.

The national economy has stayed “in the proper range” in the first half as major economic indicators gradually recovered, indicating stabilization and improvement, NBS said.

During the first half, industrial output grew 6.3 percent year on year and fixed-asset investment climbed 11.4 percent.

Property investment grew 4.6 percent year on year, while retail sales of consumer goods rose 10.4 percent

(IANS)

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