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The Financial Express

China's GDP grows 6.3 pc in first half 2019

| Updated: July 19, 2019 16:01:33


Lankabangla and Fianancial Express Lankabangla and Fianancial Express
Shanghai, China (Collected photo) Shanghai, China (Collected photo)

China's GDP expanded 6.3 per cent year on year in the first half of 2019 to about 45.09 trillion yuan (about 6.56 trillion US dollars), data from the National Bureau of Statistics (NBS) showed Monday.

The growth was in line with the government's annual target of 6-6.5 per cent set for 2019, reports Xinhua.

In the second quarter, the country's GDP rose 6.2 per cent year on year, lower than 6.4 per cent in the first quarter, according to NBS data.

The economic performance was generally stable and remained within a reasonable range, with progress being made in certain areas, NBS spokesperson Mao Shengyong told a press conference.

A breakdown of the data showed output of the service sector, which accounted for 54.9 per cent of the total GDP, rose 7 per cent in the first half of the year, outpacing a 3-per cent increase in the primary industry and a 5.8-per cent rise in the secondary industry.

Consumption continued to play a bigger role in driving economic growth, with final consumption contributing to 60.1 per cent of economic expansion in the January-June period.

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