China’s GDP expands 6.7% year-on-year


China’s gross domestic product expanded 6.7 percent year-on-year in 2016 to reach 74.41 trillion yuan ($10.84 trillion), the National Bureau of Statistics said on Friday.

“Generally speaking, China’s economy was within a proper range with improved quality and efficiency,” said Ning Jizhe, the NBS chief, at a news conference in Beijing.

“However, we should also be aware that the domestic and external conditions are still complicated and the foundation for a stabilized but progressing economy should be further consolidated,” he said.

Industrial production grew steadily, rising 6 percent year on year, the same as that in the first three quarters, the official data showed.

Fixed-asset investment grew by 8.1 percent year-on-year, 0.1 percentage point slower than that in the first three quarters. Meanwhile, total real estate development in 2016 rose by 6.9 percent, 5.9 percentage points faster than last year.