China's 2017 GDP surge steps up for the first time for 7 years

China's 2017 GDP surge steps up for the first time for 7 years

During the fourth quarter of 2017 China's economy tacked on faster than anticipated because an export revival helped the country to report its first annual acceleration in surge for seven years, thus defying worries that intensifying curbs on industry as well as credit would affect expansion.

The official surge figures published on Thursday appear to be welcome news for Beijing policymakers, already concerned with reducing debt and pollution in the country’s older industries without affecting growth in the world's number two economy.

China's GDP ascended 6.8% during the period October- December from 2016. It happened to be better than the 6.7% ascend estimate by experts in a Reuters survey and also intact from last quarter.

The headline numbers along with indications of property market resilience underpin economist views that fundamentals are going to stay intact this year, although some experts point to headwinds from tighter regulations, American trade protectionism as well as a softer consumer sector.


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