China: 2017 GDP Growth Accelerates for the First Time in 7 Years

China’s economy grew faster than expected in the fourth quarter of 2017, defying concerns that intensifying curbs on industry and credit would hurt expansion, according to an article from Reuters.

The official growth figures released on Thursday are welcome news for Beijing policymakers who are looking to cut debt and pollution in older industries without stunting growth. China’s gross domestic product grew 6.8 percent in the October to December period from a year earlier. That was better than the 6.7 percent growth forecast by analysts in a Reuters poll and unchanged from the previous quarter.

“China’s growth is very healthy,” said Iris Pang, a Hong Kong-based Greater China economist at ING.

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