Caspian Energy Journal Caspian European Club
Wednesday, 17 April 2019 17:00

Chinese economy expands 6.4% in Q1

Chinese economy expands 6.4% in Q1

Chinese economy expanded 6.4 percent year-on-year in the first quarter of this year, official data showed on April 17. China’s GDP reached 21.3433 trillion yuan (about $3.18 trillion) in the first three months of 2019, and the growth pace was the same with that of Q4 2018, the National Bureau of Statistics (NBS) said in a statement, Caspian Energy News ( reports with reference to the press office of the State Council of the People’s Republic of China.

The tertiary sector reported the strongest growth in added value by expanding 7 percent to reach 12.232 trillion yuan, which accounted for 57.3 percent of the total Q1 GDP, picking up by 0.6 percentage points compared with Q1 2018.

Consumption continued to be the mainstay in driving up demand, contributing 65.1 percent to Q1 economic growth, NBS data showed.

The industrial and agricultural sectors saw their added value grow 6.1 percent and 2.7 percent respectively.

Data on April 17 also showed stable Q1 growths in fields including industrial output, retail sales, property investment and resident disposable income.

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Person in charge of the newsline: Olga Nagiyeva 

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