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China GDP falls to 26-year low
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IANS | 20 Jan, 2017
China's economy grew 6.7 per cent year on year in 2016, the slowest pace
of growth in 26 years, but well within the government's target range,
official data showed on Friday.
Growth in the fourth quarter came
in at 6.8 per cent, accelerating from the 6.7 per cent in the third
quarter, according to National Bureau of Statistics data (NBS).
The government's target was 6.5 to 7 per cent growth for 2016, Xinhua news agency reported.
Gross
domestic product totalled to 74.41 trillion yuan (about $10 trillion)
in 2016, with the service sector accounting for 51.6 per cent.
The
data showed that major economic indicators softened last year, with
industrial output growth slowing slightly to 6 per cent from 6.1 per
cent in 2015.
Urban fixed-asset investment continued to cool, rising 8.1 per cent year on year, compared with 10 per cent in 2015.
Retail sales rose 10.4 per cent, down from 10.7 per cent in 2015.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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