Market News

China Q4 GDP grows 6.8 pct y/y, beats expectations

BEIJING, Jan 18 (Reuters) - China’s economy grew 6.8 percent in the fourth quarter of 2017 from a year earlier, official data showed on Thursday, above expectations and unchanged from the previous quarter’s growth.

Analysts polled by Reuters had expected gross domestic product to expand 6.7 percent in the October-December quarter, slowing from 6.8 percent growth in the previous quarter.

Chinese policymakers have been trying to contain financial risks and slow an explosive build-up in debt without stunting economic growth.

The world’s second-largest economy grew an annual 6.9 percent in 2017, beating the government’s target of around 6.5 percent and quickening from 2016 growth of 6.7 percent, which was the weakest pace in 26 years.

GDP in the fourth quarter grew 1.6 percent quarter-on-quarter, compared with revised growth of 1.8 percent in July-September, the National Bureau of Statistics said.

Analysts had expected fourth-quarter GDP would grow 1.6 percent on a quarterly basis. (Reporting by Kevin Yao; Writing by Elias Glenn; Editing by Sam Holmes)