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China 2016 economic growth expected to be around 6.7 percent - state planner head
January 10, 2017 / 3:10 AM / a year ago

China 2016 economic growth expected to be around 6.7 percent - state planner head

BEIJING (Reuters) - China’s economic growth in 2016 was expected to be around 6.7 percent, Xu Shaoshi, director of the National Development and Reform Commission (NDRC), said on Tuesday.

A customer selects trousers at a supermarket in Wuhan, Hubei province February 9, 2012. REUTERS/Stringer/Files

Consumption accounted for 71 percent of China’s GDP growth in the first three quarters of 2016, Xu told a media briefing in Beijing.

China’s government had targetted 6.5-7 percent economic growth in 2016. Activity was boosted by higher government spending, a housing rally and record high levels of bank lending, which, however, also led to an explosive increase in debt.

Reporting by Kevin Yao and Beijing Monitoring Desk; Editintg by Kim Coghill

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