China's economy keeps stable and positive in Oct.: NBS
November 14,2017 By:CGTN
November 14, 2017 -- (Photo/CGTN)
November 14, 2017 -- China's economy keeps positive momentum in stable growth, making the foundation for achieving the whole year economic growth target, China's National Bureau of Statistics (NBS) said on Tuesday when releasing a series of economic data.
China's fixed-asset investment (FAI) grew 7.3 percent year on year to in the first ten months of this year, reaching 51.78 trillion yuan (7.8 trillion U.S. dollars), down from 7.5 percent for the January-September period, according to official data.
In the same period, China's private fixed-asset investment increased 5.8 percent year on year to 31.37 trillion yuan, NBS said, noting the growth rate was slightly lower than the 6-percent increase for the first nine months.
The FAI in private sector accounted for 60.6 percent of the total FAI, compared with 60.5 percent for the January-September period.
The stable FAI shows a better structure, NBS said, noting that from January to October, the investment up 13.1 percent year-on-year in the primary industry, 2.7 percent in the secondary industry and 10 percent in the service industry.
NBS also post that China's industrial value-added output expanded 6.2 percent year on year in October, slowing from a 6.6-percent growth in September.
China's retail sales of consumer goods grew 10 percent year on year in October, with a high growth of online retailing.
In the first ten months, the national online retailing jumped 34 percent year on year to more than 5.53 trillion yuan, 8.3 percentage points higher than the growth made in the same period of the last year.