China 2016 economic growth expected around 6.7%

[BEIJING] China's economic growth in 2016 was expected to be around 6.7 per cent, Xu Shaoshi, director of the National Development and Reform Commission (NDRC), said on Tuesday.

Consumption accounted for 71 per cent of China's GDP growth in 2016, Mr Xu told a media briefing in Beijing.

China's government had targetted 6.5-7 per cent economic growth in 2016. Activity was boosted by higher government spending, a housing rally and record high levels of bank lending, which, however, also led to an explosive increase in debt.

REUTERS