BEIJING Oct 19 China's economy grew 6.7 percent
in the third quarter from a year earlier, steady from the
previous quarter and in line with market expectations, as
increased government spending and a property boom offset
stubbornly weak exports.
Analysts polled by Reuters had predicted gross domestic
product (GDP) would grow 6.7 percent in the July-September
period, unchanged from the second quarter and the first quarter.
While fears of a hard landing have eased this year, recent
data also have highlighted growing imbalances in the world's
second-largest economy, with growth increasingly dependent on
government spending and ballooning debt as private investment
tumbles to record lows.
The high-flying property market is also beginning to show
signs of overheating.
Gross domestic product (GDP) rose 1.8 percent
quarter-on-quarter, the National Bureau of Statistics said on
Wednesday, in line with market forecasts and compared with
revised 1.9 percent quarterly growth in the second quarter.
The government has set a growth target of 6.5-7 percent for
the full year. The economy expanded 6.9 percent in 2015, the
slowest pace in a quarter of a century.
The statistics bureau said in a statement that many
uncertain factors in the economy remain and that the foundation
for sustained growth is not solid.
(Reporting by Kevin Yao; Editing by Kim Coghill)