BUSINESS China's GDP grows 6.8% in H1 of 2018

BUSINESS

China's GDP grows 6.8% in H1 of 2018

People's Daily app

10:18, July 16, 2018

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Photo: VCG

China's gross domestic product (GDP) grew by 6.8 percent year-on-year in the first half of 2018 to about 41.90 trillion yuan ($6.27 trillion), according to data released by the National Bureau of Statistics (NBS) on Monday.

In the second quarter, China's GDP rose 6.7 percent year-on-year, a slight decrease from the 6.8 percent in the first quarter.

China's retail sales of consumer goods grew 9 percent year-on-year in June. The growth increased from the 8.5 percent rise seen in May.

China's average per capita disposable income grew 6.6 percent year-on-year in real terms to 14,063 yuan (about $2,107) in the first half of 2018. 

China's investment in property development increased 9.7 percent year-on-year in the first half of this year. The growth was slightly slower than the 10.2 percent expansion recorded in the January-May period.

China's fixed-asset investment (FAI) grew 6 percent year-on-year in the first half of this year. The total FAI stood at about 29.73 trillion yuan ($4.44 trillion).

China continued to see a stable job market in June, with the unemployment rate staying at a relatively low level, NBS data showed. In June, the surveyed unemployment rate in urban areas was 4.8 percent, unchanged from the level in May and down 0.1 percentage point from last June. 

China's value-added industrial output, an important economic indicator, expanded 6.7 percent year-on-year in the first half of 2018. The growth rate was 0.2 percentage points lower than what was recorded in the first five months.

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