The state planning agency says that the role played by “new drivers” of economic growth in China is undergoing rapid increase.
The latest official data indicates that the GDP of the southern Chinese manufacturing hub of Shenzhen ranks third amongst major Chinese cities.
One of China’s top economists says that hopes for a stabilisation in Chinese GDP growth are unfounded given an intractable slowdown in fixed-asset investment.
A vice-secretary from China’s National Development and Reform Commission has made a GDP growth forecast of 6.5 – 6.8% for 2018.
While Chinese households continue to bear a comparatively modest share of national debt, their high savings levels continue to drive up prices in the residential real estate sector.
Some of China’s provincial governments have just released new GDP growth targets that mark a significant decline compare to 2017.
20 of China’s province-level administrative entities have released their GDP figures for 2017, with the data pointing to household income growth outpacing economic expansion.
The city of Shanghai saw its annual GDP exceed the three trillion yuan (approx. USD$470 billion) threshold in 2017, with the Pudong New District accounting for nearly a third of its total economic output.
The International Monetary Fund has lifted its economic growth forecasts for China over the next two years on the back of improved expectations for external demand.
The National Bureau of Statistics says that official GDP figures indicate the Chinese economy makes a 30% contribution to global economic growth in 2017.