SHANGHAI (PRWEB) January 22, 2018
China’s economy expanded more rapidly than anticipated in the final quarter of last year fueled by a recovery in exports which helped the nation to post its first yearly acceleration in growth in seven years.
Analysts at Shanghai, China-based Ashton Whiteley believe that this is an indication that China’s restrictions on industry and credit have not hindered expansion.
The official data released last week is being well received by Beijing policymakers who are aiming to reduce pollution and debt in certain industries without inhibiting growth in the economy.
China’s GDP expanded 6.8 percent in 4th quarter from a year before. This figure was better than the predicted growth of 6.7 percent and the same as that of the 3rd quarter.
While Ashton Whiteley economists believe that China’s economy may face some obstacles due to harsher regulations and US protectionism, they are of the opinion that growth will remain robust in 2018.
In the first yearly acceleration in seven years, growth for the world’s second largest economy picked up to 6.9 percent in 2017 which exceeded the government’s target of 6.5 percent by a notable margin.
Ashton Whiteley economists reported that investment by private businesses increased from 5.7 percent to 6 percent last year, an indication that the outlook for the private sector may also be improving.
An upswing in the world’s economy last year, fueled by an increased demand for technology goods and semi-conductors, has been a windfall for many Asian economies including China whose exports grew at their most rapid pace in four years last year.