China revises 2017 GDP growth to 6.8pc

  • News Digest

Jan 20, 2019-

China revised its 2017 economic growth down to 6.8 percent from 6.9 percent, the government statistics office said Friday, as it braces for a possibly worse performance in 2018. The size of the gross domestic product of the world’s second-biggest economy was revised down from 82.7 trillion yuan ($12.1 trillion) to 82.1 trillion yuan, NBS said in a statement on its website. Annual GDP is calculated twice, the statistics bureau explained, with a preliminary calculation in January the following year and a final verification one year later, which is based on “more comprehensive and reliable basic information”. “Result of each accounting will change to some extent,” according to the statement. Economists in China and abroad have long suspected data is massaged upward, often noting that full-year gross domestic product hits Beijing’s pre-set targets with suspicious regularity. (AFP)

Published: 20-01-2019 11:04

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