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China’s economy accelerates for 1st time in 7 years

Updated: Jan 19,2018 9:08 AM     Xinhua

BEIJING — China’s economy expanded 6.9 percent in 2017, picking up pace for the first time in seven years.

GDP totaled 82.7 trillion yuan (about $13 trillion) in 2017, up from around 41.3 trillion yuan in 2010, when China first overtook Japan.

But it’s not only the speed or quantity of growth that may make China a sustained engine for global economic growth. With policymakers reiterating the importance of “high quality growth,” China’s economy is entering a new era.