Mexican Media Brands
China Says Its Economy Expanded 6.9% in 2017
China’s gross domestic product expanded by 6.9% last year compared with 6.7% in 2016, according to government data.
#economics
Share
China’s gross domestic product expanded by 6.9% last year compared with 6.7% in 2016, according to government data.
The uptick marks the first time since 2010 that the pace of China’s economic growth exceeded the previous year. The data show that the country’s economy, which grew by 6.8% in the third quarter, maintained the same rate in October-December.
But skeptics believe last year’s rate is weaker than reported. They note that the city of Tianjin and the province of Inner Mongolia acknowledge their economic data for 2016 was overstated.
Economists predict this year’s growth rate will ease as the central government takes steps to lower the national debt and continues its effort to reduce risky lending practices and speculative home buying.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.