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China's GDP grows 6.2% in first three quarters

Updated: Oct 18,2019 10:41 AM    Xinhua

BEIJING — China's GDP expanded 6.2 percent year-on-year in the first three quarters of 2019 to about 69.78 trillion yuan (about $9.87 trillion), data from the National Bureau of Statistics (NBS) showed on Oct 18.

The growth was in line with the government's annual target of 6-6.5 percent set for 2019.

In the third quarter, the country's GDP rose 6 percent year-on-year, according to the NBS data.

The Chinese economy has maintained overall stability, the statistical authority said at a press conference, while acknowledging that China faces downward pressure amid slower global economic growth and more external uncertainties.

A breakdown of the data showed output of the service sector, which accounted for 54 percent of the total GDP, rose 7 percent in the first three quarters of the year, outpacing a 2.9-percent increase in the primary industry and a 5.6-percent rise in the secondary industry.

Consumption continued to be the mainstay in driving up demand, with the final consumption contributing 60.5 percent to the economic growth in the Jan-Sept period, NBS data showed.

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