Chinese Economy Accelerated as High as 6.9 percent

In the first quarter of this year, the Chinese economy performed in a faster pace as it showed some expansion. As the government expenditure spearheaded the growth which is contrary to the expectations that it will slow down as 2017 starts.

Moreover, the National Bureau of Statistics showed an increase of the country’s gross domestic product (GDP) reaching 6.9% on year, particularly in the first quarter. The figure is quite higher versus 6.8% of the past three quarters as well as the projected result of the government ranging from 6.5% to 7%.

Based on the median forecast from analysts, there will have a quarterly increase of 6.8% in comparison to the GDP in Q4 reaching 1.3% only as presented in the official data.

China may appear to have a slower growth but it assured a consistent development due to government outlays and lower credit. It further relies on traditional economic drivers coupled with the smokestack industries. The policymakers of the world’s second largest economy already ruled out an extensive economic slowdown which was generally anticipated since the disappointing results way back 2015.