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China’s GDP growth quickens to 7.5% in Q2

2014/7/16 13:47:23   source:Shanghai Daily

  CHINA'S gross domestic product expanded 7.5 percent from a year earlier in the second quarter, picking up from the pace of 7.4 percent in the first three months, the National Bureau of Statistics said today.

  In the first half, China's economic output amounted to 26.9 trillion yuan (US$5.95 trillion), up 7.4 percent year on year. It still trailed the 7.5-percent target for this year.

  "China's growth has been stabilizing in recent months," said Sheng Laiyun, a spokesman with the bureau. "The stabilization has a broad base, ranging from production, employment, inflation to income and agriculture."

  In the first six months, industrial production increased 8.8 percent and retail sales rose 12.1 percent, both up 0.1 percentage point than their growth in the first quarter.

  Fixed-asset investment gained 17.3 percent to 21.2 trillion yuan during the January-June period, down from 17.6 percent in the first quarter.

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