Last year, the Mainland’s GDP rose 6.9% for the first time in seven years

Last year, the GDP of the Mainland reached 82 trillion yuan (RMB), up 6.9% from the previous year, much better than expected. The growth rate was 0.2 percentage points higher than that in 2016, marking its first rise in seven years.

In the fourth quarter of last year, the Mainland’s GDP grew 6.8% on a year-on-year basis, unchanged from the third quarter but lower than the 6.9% in the first and second quarters.

Total first breakthrough 80 trillion renminbi

Analysts pointed out that the fourth quarter and 2017 GDP data, reflecting the stable operation of the Mainland economy, but the Central Economic Council stressed the leverage of high-quality development and risk control, coupled with the impact of the real estate market regulation and control on the real estate investment will gradually emerge, will drag on investment growth, As well as the tense relations between the two countries, it is estimated that the economic growth will slow down steadily this year.

According to statistics released by the National Bureau of Statistics yesterday, preliminary figures show that for the first time in 2017, the total domestic GDP reached 82.7212 trillion yuan for the first time, exceeding 80 trillion yuan for the first time, up 6.9% from a year earlier, much better than the market expectation of 6.8%, higher than 2016 6.7% of the year is 0.2% higher than the first acceleration since 2011 after the economy slowed down for 6 years.

Ning Jizhe, director of the National Bureau of Statistics, said that last year the economy was steady and better than expected, and the quality and efficiency of economic growth have been raised.

Analysts pointed out that last year’s economic recovery mainly due to export rebound and consumer spending steady, but the Sino-U.S. Trade relations there is uncertainty, this year’s export growth is expected to slow down, coupled with real estate investment is expected to continue to fall, this year’s economic growth may Has slowed down.

The Mainland’s “troika” (exports, investment and consumption), which drove the economy, saw a pattern of “one rise, one drop and one stability” last year. Among them, in terms of the United States dollar, the annual export growth of 7.9% year-on-year, reversing the downward trend for two consecutive years; in Renminbi, the annual increase of 10.8%.

In 2017, the national investment in fixed assets increased by 7.2% year-on-year, a deceleration of 0.9 percentage point from the 8.1% of the previous year. Consumption remained stable with the total retail sales of consumer products up by 10.2% year-on-year, slightly down from 10.4% of the previous year 0.2 percentage points, December growth rate fell to 9.4%.

Zhu Baoliang, chief economist of the State Information Center, believes that the economic growth picked up last year was mainly due to the continued push for supply-side reform and the world economic recovery to boost export growth. However, export growth this year is not expected to be as fast as last year, and the annual GDP growth rate may drop to about 6.5%.

Shanghai Composite rose 0.9% over a two-year high

In response to the problem of water flooding in some provinces and cities, Ning Jizhe said yesterday that there are problems with the data in some places and does not affect the true reliability of the national statistical data.

The market is looking forward to better economic data in 2017. The Shanghai Composite Index gained 0.87% to as high as more than two years ago and closed at 3474 points. However, the decline in turnover led to the rise of banking stocks and the strength of steel stocks.