China's Third-Quarter GDP Grows 6.8 Percent Per Year, Industry Data Beats the Bookies
Liao Shumin
DATE:  Oct 19 2017
/ SOURCE:  Yicai
China's Third-Quarter GDP Grows 6.8 Percent Per Year, Industry Data Beats the Bookies China's Third-Quarter GDP Grows 6.8 Percent Per Year, Industry Data Beats the Bookies

(Yicai Global) Oct. 19 -- China's gross domestic product (GDP) grew in the third quarter by 6.8 percent annually, hewing to a medium-high growth rate which has stayed within the range of 6.7 percent to 6.9 percent for nine consecutive quarters, National Bureau of Statistics data show.

The nation's gross domestic product (GDP) in the first three quarters was CNY59.33 trillion, an annual rise of 6.9 percent at comparable prices, growing at the same speed the first half, or 0.2 percentage points over the same time last year.

GDP growth in the first three quarters was expected to be 6.75 percent year-on-year, while the actual data was slightly better than the forecasts, but still lower than the 6.9 percent figure of the second quarter, research by Yicai Global's chief economist shows.

Value added to primary industry was CNY4.123 trillion, up 3.7 percent yearly, while that of secondary industry was CNY23.811 trillion, up 6.3 percent, even as tertiary industry added CNY31.395 trillion, up 7.8 percent.

The total value added to industrial enterprises above a designated scale rose by 6.6 percent annually last month, 0.6 percentage points higher than August, or up by 0.56 percent monthly. Total value added to industrial enterprises above a designated size in the first three quarters went up by 6.7 percent yearly.

Total value added to industrial enterprises in September was expected to be up 6.3 percent, while the actual data was significantly better, and 0.3 percentage points higher than the August figure (6percent) released by the National Bureau of Statistics, research by Yicai Global's chief economist shows.

Total retail sales of consumer goods reached CNY3.087 trillion in September, up 10.3 percent per year, statistics show.

Total retail sales of consumer goods in September were expected to rise by 10.14 percent, while the actual data was significantly better and 0.2 percentage points higher than in August (10.1 percent), Yicai Global's chief economist's research shows.

Investment in fixed assets nationwide saw yearly growth of 7.5 percent, 0.3 percentage points lower than from January to August, or an increase of 0.56 percent monthly. The growth in investment in fixed assets was expected to be 7.8 percent, as economists predicted.

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Keywords:   National Bureau of Statistics,GDP,Total Value Added of Industrial Enterprises Above Designated Size,Total Retail Sales of Consumer Goods,Investment In Fixed Assets