China's 1st-quarter GDP growth steady at 6.8%

Lloyd Doyle
April 17, 2018

This is the third straight quarter that China reports a growth rate of 6.8%. The economy had grown 6.9 percent in the first two quarters of previous year.

China's economy grew 6.8% in Q1 of 2018, the country's Statistics Bureau announced today.

China's strong growth past year came despite widespread concerns about financial risks in the East Asian giant amid a government-led economic restructuring.

Risks to the Chinese economy in 2018 include trade protectionism as U.S. President Donald Trump's administration bares its teeth to address the yawning trade gap between the two countries.

Overall Jan-March fixed-asset investment growth slowed to 7.5 per cent, just below expectations.

For the January-March period, a number of analysts had predicted that China's economic growth would slip to 6.7 percent. There was a 35 percent rise in online shopping compared to the same period a year ago.

Beijing is looking to keep the economic balancing act intact even as it faces rising trade tensions with its largest trading partner, the United States, that could impact billions of dollars in cross-border trade.

In 2017, China's economy expanded 6.9 percent from the previous year.

Efforts by the Chinese leadership to rein in mounting local government debt, coupled with suspensions in public works projects in some parts of China, could weigh on the economy down the road.

Other reports by Iphone Fresh

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